The Michael Jackson estate is in the process of selling half of its interests in the iconic singer’s music catalog, reports Variety.
The deal in question is said to be in the $800 million-$900 million range, multiple sources have revealed to the publication. Sony and a possible financial partner are negotiating to acquire 50% of the estate’s interests in the singer’s publishing, recorded-music revenues, the “MJ: The Musical” Broadway show and the upcoming biopic “Michael” among other assets.
This would, of course, mark the biggest catalog sale ever if it goes through.
Primary Wave Music already owns a stake in Jackson’s publishing catalog but the details around that are unclear at the moment. MJ’s catalog is one of the most lucrative in recorded business, as we know. His Thriller album is alone one of the highest selling albums in history and the only one to be certified 30x platinum by the RIAA in US alone.
This news comes less than a month after it was reported that Dr. Dre is selling his catalog for $200 million.