Michael Jackson's estate is to sell off copyright to some of the biggest songs in history for 750 million dollars.Sony's forking out the cash to buy Michael's fifty percent share of Sony/ATV Music Publishing.
The joint venture, which was launched in 1995, owns copyrights for songs like 'New York, New York', 'Jailhouse Rock' and 'I heard it Through the Grapevine'.
The deal establishes Sony's control over the joint venture that Michael Jackson and Sony formed in 1995. Jackson had bought ATV a decade earlier from Australian businessman Robert Holmes a Court, outbidding Beatles singer Paul McCartney.
Sony said in a statement that the company and the singer's estate expect to execute a definitive agreement by March 31.
Advertisement
