Sonny has decided to buy Michael Jackson's 50 percent stake in Sony / ATV, the world's largest music publishing label, created in 1995. The agreement has been closed between the multinational and the executors of Jackson. The price of the operation is around 750 million dollars.
Michael Jackson acquired this catalog in 1984, thanks to the Australian Robert Holmes, and shortly after Sony proposed to him to buy half, thanks to the merger between ATV and Soni Music.
With this new agreement, Sony becomes fully the owner of the largest music catalog on the planet, with material from practically all the musical artists of the last decades, from the Beatles, Rolling, to the latest news on the music scene, such as Taylor Swift or Rhianna.
This operation arises from the fact that, in 2015, the Japanese multinational made an effective clause contained in the original contract agreed with Michael Jackson, and that it contemplated the option that any of the parties could be done with the entire society. According to company statements, thanks to this acquisition, Sony will be able to adapt more quickly to all the novelties that arise in the world of music publishing.
John Branca and John McClain are the two in charge of managing the business of King of Pop, who died in 2009. According to them, the purchase of this material, made in 1984, was one of the smartest investments in the history of music. It must be specified that lThe original recordings of Michael Jackson will remain under the control of his company, and are excluded from this agreement. The effectiveness of this acquisition will begin on March 31, as contained in the text that has been sent.