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Sony and Jackson Estate reach agreement for Sony to acquire remaining half of Sony/ATV Music Publish

mjchris said:
we??? :busted: ... no.. i make no money when i buy something? :smilerolleyes:
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Yes, we. If the estate uses the money to release new material, to buy copyrights, to invest in shows/concerts/exhibitions that preserve Michael's legacy, then we'll ALL profit from it.


mjchris said:
thats a question. does someone know?
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I really suggest you read the news in this thread.
 
"But in recent months Sony made it clear that it actually wanted to buy the other half of the music publisher, offering the estate a better deal than it had expected to receive, this person said. According to their deal, Sony had an option to buy half of Mr. Jackson’s share of the joint venture at a steep discount. But Sony didn’t exercise that option to the extent it could have, this person added."

http://www.wsj.com/articles/sony-to...n-estate-for-music-publishing-unit-1458000239
 
mjchris said:
how much is that?
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total debt was around $500 Million. The debt on Sony/ATV was around $300 to $320 Million depending on the source. So by 2012 they had paid around $200 Million for debt. MIJAC, Hayvenhurst and The Hideout condo were all debt free that time. That was what was being reported back in the day.

According to WSJ right now Estate still has $250 Million to pay on Sony/ATV.

So $250 M debt were paid and $250 M still remained. The only remaining debt was on Sony/ATV.
 
Koopa Troopa said:
Well, MJ agreed to a clause that gave Sony an option to buy half of MJ's ATV ownership. So like with Neverland, maybe MJ himself knew that these sales were inevitable. Either way, it's been a great investment, earning MJ's heirs hundreds of millions of dollars. The Estate's two deals with Sony in 2010 and now has earned them $1 billion (250+750).
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yes. a good investment. but no need to stop that. in 1995 michael made a false decision to sell 50%. and he have known that. maybe his biggest mistake ever.
 
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The executors make ten percent of revenues generated by the estate. Not sure if this is before taxes and debts. It might be. They have made an enormous amount of money managing this estate. Sure, they are generating money for the heirs, but at the same time are generating their own wealth. Lawyers are not particularly known for their altruism (!). What's good for the heirs, is also good for them.
 
maja said:
Yes, we. If the estate uses the money to release new material, to buy copyrights, to invest in shows/concerts/exhibitions that preserve Michael's legacy, then we'll ALL profit from it.



I really suggest you read the news in this thread.
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no, we didnt. i earn nothing with this.
 
mjchris said:
yes. a good investment. but no need to stop that. in 1995 michael made a false decision to sell 50%. .
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In 1995 Michael the catlog mantains only the Beatles right, after the merging he was co-owner of the biggest publising-catalog, a thing which he never could have reached at his own.
 
ivy said:
total debt was around $500 Million. The debt on Sony/ATV was around $300 to $320 Million depending on the source. So by 2012 they had paid around $200 Million for debt. MIJAC, Hayvenhurst and The Hideout condo were all debt free that time. That was what was being reported back in the day.

According to WSJ right now Estate still has $250 Million to pay on Sony/ATV.

So $250 M debt were paid and $250 M still remained. The only remaining debt was on Sony/ATV.
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so they were on a good way to pay all debt. no need to sell it.
 
The estate had two options only : to buy sony's half or to sell the estate's half. Buying sony's half means a new $ 750 million loan in a difficult context for the music industry (The estate don't have the infrastructure and logistics that Sony have). Some songs will revert back to Lennon and MacCartney in 2018, meaning a loss of the catalogue's value. With some important trials to come.

So, it's the best outcome.
 
mjchris said:
so they were on a good way to pay all debt. no need to sell it.
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buying sony's share would have meant additional debt though.

plus if this is a shotgun buy/sell clause, you don't seem to understand it. In a shotgun buy/sell Sony would say to MJ Estate "here is $750 M for your share". Estate's only option would be to buy Sony's share for $750 Million. If they didn't Sony would buy their share.
 
respect77 said:
So this is what they got from the Sony/ATV catalog annually?
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yes according to the last accounting.

Also fits with the statement it says $750 Million in total and explains "lump sum payment by SCA of approximately 733 million U.S. dollars as well as distributions previously committed to by Sony/ATV to be paid to the Estate." 750 - 733 = $17 Million. So they are giving them the annual guaranteed $17 Million distribution plus $733 Million.
 
ivy said:
buying sony's share would have meant additional debt though.

plus if this is a shotgun buy/sell clause, you don't seem to understand it. In a shotgun buy/sell Sony would say to MJ Estate "here is $750 M for your share". Estate's only option would be to buy Sony's share for $750 Million. If they didn't Sony would buy their share.
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i've understand that allready. do you know if such deals are normal? normal back in 1995?
i dont get it why michael signed such an deal. maybe that he thought he can later buy it back? but then he would have known that sony always have much more money than himself.
and i want to know why now? why not 10 or 15 years ago, when sony would have to pay less money for this?
 
Blame mj for what exactly? his debts are no longer an issue. The executors are wealthier than ever even before they struck this deal. Stop acting like they are miserable human beings for having to deal with the shit mj left them. He left them an empire by any means and they are taking advantage of every possible opportunity to profit. The executors are not even claiming they were forced to do this, this is the interpretation that some of their hardcore fans want to shove our throat. They are saying while there were others willing to join them in acquiring Sonys share they chose to sell instead of buying. In other words, stop acting like they were forced to fork 750 million which is not true at all. They admitted that they did not suffer from shortage of investirs willing to get their hands on sony's share rather they believed that getting their hands on 750 millions seemed a better business decision to them. Of course if you calculate their percentage of this deal it makes a perfect sense for them to sell for no other deal the estate will ever do bring them the profits they get now. Do us a favor and stop repeating this is mj mistake, and it is nothing but insult to say this sale is in the best interest of his kids.
 
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Soundmind said:
Blame mj for what exactly? his debts are no longer an issue. The executors are wealthier than ever even before they struck this deal. Stop acting like they are miserable human beings for having to deal with the shit mj left them. He left them an empire by any means and they are taking advantage of every possible opportunity to profit. The executors are not even claiming they were forced to do this, this is the interpretation that some of their hardcore fans want to shove our throat. They are saying while there were others willing to join them in acquiring Sonys share they chose to sell instead of buying. In other words, stop acting like they were forced to fork 750 million which is not true at all. They admitted that they did not suffer from shortage of investirs willing to get their hands on sony's share rather they believed that getting their hands on 750 millions seemed a better business decision to them. Of course if you calculate their percentage of this deal it makes a perfect sense for them to sell for no other deal the estate will ever do bring them the profits they get now. Do us a favor and stop repeating this is mj mistake, and it is nothing but insult to say this sale is in the best interest of his kids.
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a new $750 millions loan and the outcome with IRS are a joke
 
sure it was in 1995 a mistake by mj. he would have get more profit without selling the 50%.
when u have somehting that grows and grows, and you are the only one owner. you have the maximum earning.
giving away half of the profit is a loss.
 
Soundmind said:
why are you using your brain?! The estate said this a better deal then it is a better deal.
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why are you using your brain and believing everything branca and co says?
only because branca says its the best is not a prove its the best.
i dont wonder why mj didnt want him anymore. i dont trust this guy a second.
 
ivy said:
total debt was around $500 Million. The debt on Sony/ATV was around $300 to $320 Million depending on the source. So by 2012 they had paid around $200 Million for debt. MIJAC, Hayvenhurst and The Hideout condo were all debt free that time. That was what was being reported back in the day.

According to WSJ right now Estate still has $250 Million to pay on Sony/ATV.

So $250 M debt were paid and $250 M still remained. The only remaining debt was on Sony/ATV.
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Thats personal debt, isn't it?

What about the debt tied to Sony/ATV?
They purchased 2 big catalogues in 2007 and most recently Emi deal, so I suppose profits from Sony/ATV went to pay these new catalogues?
 
marc_vivien said:
a new $750 millions loan and the outcome with IRS are a joke
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and who said They needed to buy the share themselves? You are assuming they were. They could have arranged for another partner to buy it and they admitted they was no shortage of people willing to get involved. Why are you all ignoring the fact that they would have only been forced to sell if there was no one willing to come in. They say they were happy to walk out with a 750 millions but no where did they say the only alternative was to fork that amount themselves.
 
ivy said:
yes according to the last accounting.

Also fits with the statement it says $750 Million in total and explains "lump sum payment by SCA of approximately 733 million U.S. dollars as well as distributions previously committed to by Sony/ATV to be paid to the Estate." 750 - 733 = $17 Million. So they are giving them the annual guaranteed $17 Million distribution plus $733 Million.
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Sound like a good deal to me. It was bound to happen so now it over.
 
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Soundmind said:
and who said They needed to buy the share themselves? You are assuming they were. They could have arranged for another partner to buy it and they admitted they was no shortage of people willing to get involved. Why are you all ignoring the fact that they would have only been forced to sell if there was no one willing to come in. They say they were happy to walk out with a 750 millions but no where did they say the only alternative was to fork that amount themselves.
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The new partner wanted probably some control and perhaps was not reliable.

People forget the music industry is in bad shape. And many Beatles will revert back to Lennon & McCartney by law
 
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nothing but excuses. I thought they needed 750 millions and IRS , it is now it could be a who has more control. Mark my word, they will settle with Robinson and safe duck since they liquidated mjs assets they would want to "protect" the cash by settling of course.
 
Soundmind;4141018 said:
and who said They needed to buy the share themselves? You are assuming they were. They could have arranged for another partner to buy it and they admitted they was no shortage of people willing to get involved. Why are you all ignoring the fact that they would have only been forced to sell if there was no one willing to come in. They say they were happy to walk out with a 750 millions but no where did they say the only alternative was to fork that amount themselves.
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From their statement:
The amount that Sony is paying, $750 million, is a substantial premium on the Estate’s interest in the company after taking into account the debt of the company, the Purchase Option and other adjustments required under the partnership agreement. It is also a huge testament to Michael’s business acumen that his original investment appreciated so substantially over the last 30 years.

The estate is aware of the age of PPB, soon enough they want houses, marry, set up companies etc, and their obligation is to provide those.
They have to have enough money to provide all that, and as mentioned above statement, "taking into account the debt of the company", which I believe means Sony/ATV is already heavily in debt because the catalogues purchased in recent years, so tying more money to it is not option that they consider beneficial for PPB for their future.
 
Bubs said:
Thats personal debt, isn't it?

What about the debt tied to Sony/ATV?
They purchased 2 big catalogues in 2007 and most recently Emi deal, so I suppose profits from Sony/ATV went to pay these new catalogues?
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As I said before , in my understanding they classified the debt on MIJAC, debt on the houses and creditor claims etc as personal debt. They didn't see Sony/ATV as a personal debt.

Majority of the money they received from Sony went to paying the debt on Sony/ATV.
 
ivy said:
yes according to the last accounting.

Also fits with the statement it says $750 Million in total and explains "lump sum payment by SCA of approximately 733 million U.S. dollars as well as distributions previously committed to by Sony/ATV to be paid to the Estate." 750 - 733 = $17 Million. So they are giving them the annual guaranteed $17 Million distribution plus $733 Million.
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That looks like a good deal then. They got 44 years worth of profit. PLUS all debts paid. And who knows where the music industry will be in 44 years?
 
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