Michael Jackson's $1.5B Catalog Lands Court Approval For Sale — 'Thriller' For Sony
Portfolio Pulse from Franca Quarneti
Michael Jackson's estate has been approved to sell half of his $1.5 billion music catalog to Sony Music for $750 million. The California Second District Court of Appeal upheld the decision, allowing the estate's executors to proceed with the sale, despite objections from Jackson's mother. This strategic transaction strengthens Sony's music portfolio.
August 22, 2024 | 7:51 pm
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Sony Music has been approved to purchase half of Michael Jackson's music catalog for $750 million, enhancing its music portfolio. The court ruling allows the estate's executors to proceed with the sale, marking a strategic acquisition for Sony.
The acquisition of half of Michael Jackson's music catalog for $750 million is a significant strategic move for Sony, enhancing its music portfolio. The court's approval allows the transaction to proceed, overcoming objections and affirming the executors' authority. This deal is likely to positively impact Sony's stock in the short term due to the high value and iconic nature of the assets involved.
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