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Does MJ own his own catalog, 100%?

Where is the official statememt which sony released? Where did you get this information from, what abou the 1 billion security that MJ had on his catalogue from sony? This doesn't make any sense.
 
Look, if Michael had sold 25% of his catalog to Sony, he would have no say in any assets they acquire, any music catalogs, which over the last few months, they've done quite a bit of, and all of which Michael had to give the okay on. Sony/BMG haven't been able to strike a deal with Sony/ATV as of yet because they need Michael's approval on any deal they come up with. Only a majority share holder has that power, Michael is an equal share holder with Sony right now.
 
On April 14th 2006 Michael Jackson struck a deal with Sony and Fortress Investments. Sony was allowed to take control of half of Jackson's stake in Sony/ATV Music Publishing which Mike co-owns. Jackson was left with 25% of the catalogue, with the rest belonging to Sony.

^^ SONY released an official statement regarding this the same week.. Also Ms. Bain that same week released a statement saying that Michael "restructured his finances with the assistance of Sony."


Screw it.. No staff is saying NO do not type... so!!!

Mike ownes his music under 'Mijac' his company.. along with a couple other artists songs.. To sum it up, Michael used Mijac as COLLATERAL to hold two LOANS.. Meaning the BANK held official control of what happens WITH the music...


Remember when Mike wanted to leave SONY?? Well, the Bank offered SONY to buy the 'Mijac' after it's value went under the amount the bank agreed to hold it for.. Which means he needed to find more collatoral.. (His Neverland Ranch and the family home), Sony threatened Michael that if he LEAVES them before the contract is up, they will buy 'Mijac' and he'll leave Sony without his own music.. This is a MAJOR reason why Mike stayed with Sony. (They THREATENED) him..

More in the Sony conspiracy:
Michael sold 25% of his 50% (Sony-ATV) rights to sony, in a trade that they would use that money to pay off the loans.. SONY paid the full Loans except for 10% PURPOUSLY so the Bank would still have control of his music OVER MICHAEL.. And give Sony more POWER to keep Mike under their wings..At this point Michael took Neverland and the Family home off of 'collateral' but the 10% still held 'Mijac'


mean while the Bank sold the loan to Fortress Investment with a 20% interest rate.. (Which is high)
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just do the research yourself then.. I spend hours, looking for things, and I find a lot of things that have been usefull in all aspects of MJ (from a fan view).. I think it's funny when people argue with other fans about what's true and not true.. But they don't spend a minute trying to find out themselfs..

^^ this not regarding all of you.. ^^ Just many fans..
 
just do the research yourself then.. I spend hours, looking for things, and I find a lot of things that have been usefull in all aspects of MJ (from a fan view).. I think it's funny when people argue with other fans about what's true and not true.. But they don't spend a minute trying to find out themselfs..

^^ this not regarding all of you.. ^^ Just many fans..[/b]
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KOPV you're mistaken. MJ HAS NOT sold 25% of his ATV catalogue to Sony, never did. I have court documents from this year that speak to that. Sony has an option to buy that share by end of March 2008, option is all they have. At this point (and until then if Sony chooses to exercise that option, which they're expected not to coz they'd have to pay MJ a lot of money) MJ is 50% owner of Sony/ATV. Go to the Sony.com website and look what it says there officially. It says 50/50 joint venture. Look at Sony's SEC filings or annual statements or even email their communications/PR people they'll confirm for you that MJ is still a 50% owner of Sony/ATV.

That article you posted is a very old article and was not factual... the only factual one appeared in Financial times, LA Times and others and they said correctly "option" nothing else... follow up articles said that too.. and the Precient case had documents that confirmed the option.....

Edit.. just read your post... and all of it is actually wrong.

MJ owns his 50% Sony/ATV (his company called MJ-ATV trust) and 100% MiJac (MJ Publishing trust). They're both now under the New Horizon Trust his new trust company that he owns 100%

MJ had loans with BOA and had used part of this catalogues as collateral BOA had NO control over his music... they are a bank that he owed money. They sold the loans to Fortress behind MJ's back and had nothing to do with Sony infact Sony panicked at this. MJ was now without his choice indebted to Fortress. When the trial ended. MJ was then approached by 5 banks or rather he and Sony (who are his partners) were approached by 5 banks... to refinance the loan and take it from Fortress because Fortress is not a bank... Citi Bank had the best offer to refinance and deal for payment offering as low as 6% yearly interest only (as opposed to the 18% BOA had and the just as high that Fortress had). Fortress exercised its right to match the lowest and best deal which was the Citi Bank deal. So they did.

MJ moved his two trusts to NHT then locked it so that all his funds from NHT (which is 50% Sony/ATV and MiJac) go straight to paying the loans until the loans are done. Sony was part of it only because they are partners in Sony/ATV so whatever happens to MJ happens to them... same thing with MJ whatever happens to Sony (in terms of ATV) happens to him, Sony has also used their part of Sony/ATV for loans just like any company would. All of this has nothing to do with the masters at all.

Bottom line. MJ owns 100% MiJac publishing (which has more than 800 songs and includes his entire catalogue post Jackson5 and Jacksons era) rights (and soon masters to his songs) and owns 50% of Sony ATV.
New Horizon Trust is his new trust that has the two MJATV and MiJac catalogues
New Horizon Trust is locked and the funds straight away channeled to paying his current loan with Fortress.
Sony has an option to buy 25% of MJ's share, its only a safety option to ensure should anything happen eg a default that they are poised to get that share instead of another company coming in to get it....

That is the business side.

The artist side of the deal... he owns all his publishing rights.... Sony as I understand it still have the masters to his music but the deal is over by next year, this means MJ gets the masters back and at that point controls everything that is his.

:D
 
^^ But is 'Mijac' still collatoral for the loan(s)?? This was never cleared (as what I have read).. This is the main point I have been trying to post for days.. Because if 'Mijac' is collatoral he does not have 100% control.... having ownership and control are two different things.. If he has loans still outstanding with Fortress Investments, 'Mijac' is still basically "hostage" untill they are paid off and/or Michael gets something else in replacement of 'Mijac'.. 'Mijac' has a high worth that a company like Fortress Investment. will not let go very easy.. They will want the amount it's worth, plus interest.. 18-20% that has been stated before..

It would be hard to find something worth Mijac besides his homes.. which is never safe to put for collatoral.

That is why I kept saying MJ owns 100% of Mijac but does not have full control..

(that was my mistake.. I knew 25% Sony-ATV were at stake, I miss understood that) lol!

that confuses me more though, because documents showed that Sony THREATENED Michael with his contract and paying loans and it regarded his share of ATV-SONY etc.. It's part of the big conspiracy of SONY with MJ..
 
:frustrated: All i have to say about this whole thing is that Michael does own part of his catalog but sonny does have a stake in it. I really don,t know all the details nether do i feel i should. Of course thats my opinion i just feel Michael has enough to get him threw any problem with some who want to sue him. is just to bad that people are still tring to get money from him. Some i,m sure he owes but most are just money hungry beasts who are after something for nothing.
 
^^ But is 'Mijac' still collatoral for the loan(s)?? This was never cleared (as what I have read).. This is the main point I have been trying to post for days.. Because if 'Mijac' is collatoral he does not have 100% control.... having ownership and control are two different things.. If he has loans still outstanding with Fortress Investments, 'Mijac' is still basically "hostage" untill they are paid off and/or Michael gets something else in replacement of 'Mijac'.. 'Mijac' has a high worth that a company like Fortress Investment. will not let go very easy.. They will want the amount it's worth, plus interest.. 18-20% that has been stated before..

It would be hard to find something worth Mijac besides his homes.. which is never safe to put for collatoral.

That is why I kept saying MJ owns 100% of Mijac but does not have full control..

(that was my mistake.. I knew 25% Sony-ATV were at stake, I miss understood that) lol!

that confuses me more though, because documents showed that Sony THREATENED Michael with his contract and paying loans and it regarded his share of ATV-SONY etc.. It's part of the big conspiracy of SONY with MJ..[/b]
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ahem... let me use an example: see, MJ's loan is like you having a mortgage, you own and control your house/apartment/condo etc... even though you're paying the mortgage, yes the bank has potential rights to it if and only when you are unable to pay the mortgage and you default several times, but they do not control and never will control your house unless you default and the bank takes possession of your house. So does a mortgage render your house/condo/apt hostage? well no, but if you default then that situation gets realized. But in the mean time you can enlarge your house by making more developments, adding rooms, new kitchens, color it different, add a pool do whatever you want to the house... since you control it... Same as MJ he can do whatever he wants with his catalogues as long as Fortress gets its money at the end of the day....

MiJac and 50% Sony/ATV are used as collateral, that does not mean anyone else has control over them other than Michael. MJ still controls his 50% of Sony-ATV and still has 100% ownership and Control of MiJac. Sony cannot re-release anything without MJ's approval, he does make money from them and they also have the rights to the masters for now.... so they will release stuff until MJ gets the masters and then chooses not to.
 
Thank you aveeno, I knew you'd come and explain, lol.

MiJac Publishing isn't at stake I don't believe, Michael simply has his share of Sony/ATV and MiJac Publishing both under the same, locked, New Horizen Trust, and all monies made from those two assets, at this time, go in to paying off his loans owed to Fortress, until the debts are paid off, at which point, all of that money will then convert back directly to Michael, am I right?
 
Aveeno, I so appreciate your explanation on this matter......you have put alot of things into perspective for me now, thanks!
 
Gee, thanks, Aveeno, for breaking this thing down. I completely understand everything you are saying.

All I can say is this....the simple fact that Michael has locked the loan and is funneling all of his earnings from the two catalogues to this loan, really shows me that Michael has every intention of paying his bills. Dude just had some unscrupulous (sp) accountants who were not doing their jobs. I don't care how rich a person is, nobody wants to have a lingering $250 mil loan. Even Donald Trump pays his bills!
 
yes thank you Aveeno.. I have another thought though.. lol!

My wife is a financial consultant and deals with loans on a daily bases.. When you have a loan, If the loan (for a house) for example, can be reposest.. Meaning at the END OF THE DAY. when it comes down to it, they do have control.. Not as in, they chose what happens to it.. U can do what you want with it.. It's your HOUSE, it's your property.. But if the loans are not paid by specific dates.. They have the FULL right to reposest it.

The fact that BOA sold the loan to Fortress shows that there were payment issues (loan not being paid).. No business just sells a loan over for the heck of it.. They make MONEY off of loans.. They SELL once they are not being paid on time/correctly/ in full etc.. (Basically when too many issues comes up)

Banks have the RIGHT once something to reposest something BEFORE they sell over to another company, meaning they could have reposest 'Mijac' but did not..


Now I see it as.. If a BANK can TAKE something FROM you, they have CONTROL.. Even if you CURRENTLY OWN IT..
 
KOPV - i dont know the ins and outs of the loan, but BOA made money off the loan, no doubt. It is unclear whether MJ was having problems paying and therefore would be unfair to speculate that the reason BOA sold to Fortress was because he couldn't pay. They might've decided that the endless b.s surrounding MJ made the loan high risk, that is possible.

KOPV if you went to your local bank tomorrow and asked for a personal loan you would, in most cases, need collateral. Aveeno has established what that is for MJ so i dont have to go there. When you sign your agreement with that bank, there are always terms and conditions. MJ has payments to make on the loan at specific dates and probably specific amounts of money. If he defaults, then, and only then is there a problem.

They donot decide one day to pull the rug out and sell up his assets rather than take the payments. The upshot for MJ is he has time o make payments, the upshot for the bank is they are collecting interest on a massive loan. When its all said and done, everything cool as long as you make the payments and thats not just for michael jackson, its for any brother.

And finally depending on MJs loan terms, sometimes it works that the quicker you pay, the less interest you pay.

The potential drama i see is not having enough physical cash and we have kinda been lead to believe that has been Michaels prob for awhile now, not working and all. He has always been asset rich and most wealthy people aren't anyway, all sorts of companies and investments but they dont have $10 mill sitting around in a random bank account, just seems to be the nature of the beast. Just dont let the media fool you, MJs situations from very much from the outside does not look dire at all and if anyone is talking about money then they are talk cash on hand, not assets.
 
a star as always aveeno. ppl should take care about posting info that isnt correct regarding mj. especially when its something as confusing as trust and cats and what not.

kick question that has always confused me abit.sony have the option to buy 25% until next march but if they do they will have to pay mj over 1 billion$ for it. now is that option only there because if he defaults they get first pick or is it viable that they could decide to take the option even if there is no default? is that allowed under the contract? and if it is allowed why is it only allowed upto march 08? what if you default in april 08?
 
KOPV - i dont know the ins and outs of the loan, but BOA made money off the loan, no doubt. It is unclear whether MJ was having problems paying and therefore would be unfair to speculate that the reason BOA sold to Fortress was because he couldn't pay. They might've decided that the endless b.s surrounding MJ made the loan high risk, that is possible.

KOPV if you went to your local bank tomorrow and asked for a personal loan you would, in most cases, need collateral. Aveeno has established what that is for MJ so i dont have to go there. When you sign your agreement with that bank, there are always terms and conditions. MJ has payments to make on the loan at specific dates and probably specific amounts of money. If he defaults, then, and only then is there a problem.

They donot decide one day to pull the rug out and sell up his assets rather than take the payments. The upshot for MJ is he has time o make payments, the upshot for the bank is they are collecting interest on a massive loan. When its all said and done, everything cool as long as you make the payments and thats not just for michael jackson, its for any brother.

And finally depending on MJs loan terms, sometimes it works that the quicker you pay, the less interest you pay.

The potential drama i see is not having enough physical cash and we have kinda been lead to believe that has been Michaels prob for awhile now, not working and all. He has always been asset rich and most wealthy people aren't anyway, all sorts of companies and investments but they dont have $10 mill sitting around in a random bank account, just seems to be the nature of the beast. Just dont let the media fool you, MJs situations from very much from the outside does not look dire at all and if anyone is talking about money then they are talk cash on hand, not assets.[/b]
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For those people who have studied business and finances, It may well be that MJ has been advised to have a small load to offset his tax. Apparently it is never wise for a very weathy person to be debt free, otherwise that person will be made to pay more to the tax man than is necessary, so rich people and large businesses get round this issue by having a small debt, which they claim for on tax forms. I was under the impression this was what MJ has done.
Also, business people never use thier own money for investments. They always use the banks money.
 
Good qustion elusive!

But as I look at the situation and analyse a bit, I think it's almost imposible for Michael to default. All his profits from Sony/ATV are blocked right? If Mike defaults that means that all Sony profits are in danger as well, becuase Mike and Sony are an entity now. Mike's profit being blocked in New Trust Horizon, that means HALF of Sony/Atv profits are blocked. I see Mike failing in paying his debt only if Sony/ATV is not doing well at all, having dropping profits for 2007/2008.

And I cannot envision Sony buying 25% of Sony/ATV, while the company is not doing well, either.



Now it's interesting to see the aprox. numbers for Sony/Atv per year. Split it at half and we can calculate how much of his debt, Michael would be able to pay for these 2 years of blocked profits.
 
very true tipareth. mjs funded are locked and go straight into payment so obviously depending on the agreed monthly payment you could only default if sony/atv/mijac suddenly go down the pan and that is vertually impossible.its not like you forget to pay one month or spend the money else where cause its all set up to go directly into the payment.or the only other problem would be if your monthly paymeny is set to high.but that would be done properly when it was all first set up.

So i presume from that that sony have the option to buy the 25% upto next march regardless. but even of they did they would have to pay mj around 1.1 billion for it which is more than its worth so it would still be a win situation for mj even though of course hed like to keep that 25% regardless
 
They also GOT to solve their problems with Sony/BMG till the expiration date, becuase Michael it's still tied up. And if the option to buy the 25% is regardless, that means that it can get to the negociation table along with other matters... still a good thing for them...


If Michael would resist past the date that means, hard work and more effort for Sony/BMG in convincing Michael in alowing their business to go further. Michael is the key, the one to decide their fate!! lol
 
They also GOT to solve their problems with Sony/BMG till the expiration date, becuase Michael it's still tied up. And if the option to buy the 25% is regardless, that means that it can get to the negociation table along with other matters... still a good thing for them...


If Michael would resist past the date that means, hard work and more effort for Sony/BMG in convincing Michael in alowing their business to go further. Michael is the key, the one to decide their fate!! lol[/b]
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yeap he has control over the mergers plans. the balls in his court. he could let sony have some sort of publishing deal with bmg but to allow that he may want sony to drop the 25% clause. or he could bascially get sony to pay off the debt interms of the money they may give him to allow them to have a publishing company with BMG. gonna be intresting to see what happens. whether we get to know what happens is a different matter
 
Thanks for explaining Aveeno (and the rest of you). Your posts are always so helpful :).
 
yeap he has control over the mergers plans. the balls in his court. he could let sony have some sort of publishing deal with bmg but to allow that he may want sony to drop the 25% clause. or he could bascially get sony to pay off the debt interms of the money they may give him to allow them to have a publishing company with BMG. gonna be intresting to see what happens. whether we get to know what happens is a different matter[/b]
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The remaining debt! I guess that by the 2008 spring time, at least 1/3 of the debt will be already payed.

And if Mike resists few months more, the reason for dropping that 25% clause will vanish, becuase that clause will expire by the April 2008. Am I right?

I think Michael is in a unique position of becoming minor shareholder in Sony/BMG too. This will be the only thing that will really satisfy Michael at this point. And I also think that this is the reason that the new album is not out, this one and those masters. 2008 is the year when Michael will get total control and freedom over his work.
 
And if Mike resists few months more, the reason for dropping that 25% clause will vanish, becuase that clause will expire by the April 2008. Am I right?[/b]
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yeah thats right. think its the end of march sometime. i wonder though if there could be an issue with mj getting a % in any sony/bmg publishing company. like the EU investigation to the sony/bmg merger. ie to few ppl having to much power. so mj having intrests in 2 major publishing companies.who knows im just guessing. which ever way its looked at mj is in the driving seat by being able tell sony what he wants in return for them being able to go into publishing as sony/bmg
 
I don't get that EU investigation, why is their business anyway? They mingle their nose too much in everything... I am starting to feel tired about these countless European Union comissions that are into everything...

Anyway, maybe getting Michael on board as a shareholder would be seen as a good thing, becuase their power won't be so strong. I am reading an article here, and seems that there are fears over a too large corporate and power. So maybe introducing new names into the corporation would be beneficial... I really don't know though...
 
[/b]
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its to stop single companies or ppl getting to much power in whatever business they are in. like with murdoch buying up shares in a uk tv station. think hes been investigated over that or microsoft having so much power that everything to do with comps comes from them. guess its to try and stop the corruption that comes with having so much power in a certain business area.
 
Thank you, now I get it.

Anyway, get Mike in, he will fight and stop the corruption! LOL
 
Michael's smart as hell.[/b]
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:yes:

Please no remix albums. Remixes blow big time. they take away the quality of the original track. Remixes should all be blown up.[/b]
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I agree. At least, when it comes to a classic album that was released decades ago, anyway.
 
yes,i think Michael is looking now for total freedom-he wants to create,to do something completly new again!he is waiting for that perfect moment.i just can't wait:)
 
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