Latest on MJJC

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

OnirMJ said:
Prescription medications. So you think it's better to live in constant pain? When you have a headache do you take a pill or do you suffer?
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its better to use medications in the normal way, without getting addicted. and without abusing it.
 
OnirMJ said:
It is a mistake in the new statement. That clause was added to the contract in 2006. Search this thread for that article. It explains everything.
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i've allready read erverything.^^
 
Hee-Hee! Big Firms and Boutiques Moonwalk to Michael Jackson Sale

It’s a $750 million thriller.

Sony Corp. of America, a wholly owned subsidiary of Tokyo-based conglomerate Sony Corp., announced Monday that it has signed a binding memorandum of understanding to buy the remaining 50 percent stake in Sony/ATV Music Publishing it does not already own from the estate of pop icon Michael Jackson. Three prominent Am Law 100 firms, as well as two top Los Angeles-based boutiques, have landed lead roles on the transaction.

White & Case is representing Sony on the MOU—a definitive agreement is expected by March 31—with a New York-based deal team led by M&A partners Morton Pierce and Chang-Do Gong, as well as associates Daniel Kozin and Michael Elliott. Pierce said that White & Case has been representing longtime client Sony on the deal since last fall, around the time that the company exercised a buy-sell provision of the Sony/ATV joint venture with Jackson’s estate. (Pierce, who joined White & Case in 2012 after leaving now-defunct Dewey & LeBoeuf, advised Sony in 2011 on its purchase of recorded music and publishing units of EMI Group.)

While the music rights in play are for such songs as “New York, New York” and “Over the Rainbow,” as well as artists like The Beatles, The Rolling Stones, Alicia Keys, Lady Gaga, and of course, the legally troubled King of Pop, Pierce said the flashy nature of the transaction in terms of public perception didn’t change the legal course of action—simply negotiating a deal.

Jackson’s estate was advised by John Branca, a longtime lawyer for the late pop star and co-executor of his estate, as well as a partner and head of the music department at Ziffren Brittenham. The Los Angeles-based firm, founded in 1978 to service the legal needs of the stars, serves as general counsel and music counsel for Jackson’s estate. Ziffren Brittenham once had 10 name partners for one of the longest law firm names in the country before shortening its shingle in recent years. Branca, in a brief phone conversation Tuesday, said his firm had too many well-deserving stars of its own, but simply had to simplify its shingle. (Ziffren Brittenham, which for a time didn’t even have a website, appears to have now caved on that front as well.)

Branca’s dual roles representing Jackson’s estate and serving on the board of directors for Sony/ATV emerged in hacked emails at Sony last year. Citing information included in those leaks, the New York Post reported that Branca’s salary as a senior adviser to Sony was $500,000 in 2014 and poised to rise to $1 million in 2016.

Greenberg Traurig is serving as corporate music counsel to Jackson’s estate on the Sony/ATV deal, while Venable partner Wallace Christner in Washington, D.C., took the lead in providing general corporate counsel to the estate. Joel Katz, a founding partner of Greenberg Traurig’s Atlanta office and chair of the firm’s global entertainment and media practice, took the lead for his firm in advising Jackson’s estate. Both firms declined to comment about their work on the transaction.

Santa Monica, California-based litigation boutique Kinsella Weitzman Iser Kump & Aldisert—led by name partner and longtime Hollywood lawyer Howard Weitzman—is also serving as litigation counsel to Jackson’s estate on the sale of its stake in Sony/ATV. Weitzman did not return a request for comment.

After Jackson’s untimely demise at 50 in 2009 from a physician-administered overdose of Propofol, sibling publication The National Law Journal reported that the same legal players were present during the first probate court hearing related to the mega-musician’s estate. At the time of the hearing, Weitzman had taken up work for Branca and music producer John McClain as co-executors of the estate, working alongside Greenberg Traurig’s Katz and Vincent Chieffo, a Los Angeles-based partner at the firm and co-chair of its national media and entertainment litigation group.

In 2014, legal newswire Law360 reported that Venable, Katten Muchin Rosenman and Arnold & Porter had earned roughly $2 million in fees for work on behalf of Jackson’s estate related to an IP suit and Cirque du Soleil show that featured the King of Pop’s songs. Another report last year by an entertainment industry trade publication noted other professional service fees being paid to Branca and others by Jackson’s estate, which each year is among the top earners for dead celebrities.


Read more: http://www.americanlawyer.com/id=12...oonwalk-to-Michael-Jackson-Sale#ixzz4348Zkb42
 
"....Money also continues to roll in thanks to the strength of the Mijac Music catalog, which holds the rights to MJ's recordings and masters, as well as music by Sly and the Family Stone, Ray Charles, Presley and Aretha Franklin."

I'm happy that MJ has them but I wonder what made him want some of Aretha Franklin's and Elvs Presley's music.
I know both artist are profitable, but it's so random LOL. :)
 
People here posed valid question regarding to Branca's role in the negotiations and whether there was a conflict of interests during the sale.
Above article states that Sony was represented by White & Case, and The Estate represented by Branca, Weitzman, and Katz.

As to what comes to Branca's dual roles representing Jackson’s estate and serving on the board of directors for Sony/ATV.
There always have been somebody from Michael's camp representing him on the board of directors, I remember Dileo and Bain from top of my head, so I don't see Branca sitting in as board of directors as conflict of interest. It would be different if he was the one negotiating this deal on behalf of Sony, but it looks like he didn't, somebody correct me if I'm wrong?
 
ivy said:
It means Sony made an offer to buy MJ's share. Estate's only option were to buy Sony's share. If they didn't Sony would buy their share.
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So Sony, in activating the clause, had to be prepared to lose the whole thing? Is that what you're saying? So party A makes a bid, and then party B can buy the whole thing? That doesn't make a great deal of sense. Ie. say the Estate activated the clause first, Sony would counter and purchase the Estate's half? Surely the agreement worked both ways afterall?
 
How is this really a big deal now ? His kids are secure , he will probably be happy.
 
2/10/2013
Michael Jackson Corporate Structure - Updates
http://lesliemjhu.blogspot.sk/
One of my returning topics were about the corporate structure around MJ. As I have decided to have regular posts again, I will update these topics first.

All these legal entities belong to The Estate of Michael Jackson, led by John Branca from Ziffren Brittenham LLC and John McClain. Legal representation is done by Howard Weitzman from Kinsella, Weitzman, Iser, Kump and Aldisert LLC. Accounting done by Miller, Kaplan, Arase LLP.

By the way the Estate did a great job with re-structuring MJ's corporate empire, no useless entities left, and everything is centered around one single team of decision makers.
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The Michael Jackson Company LLC
Register date: 06/13/2006
County: Delaware, California
Ownership: 100%
Profile: Intellectual property, general.
Established by MJ as the new centerpiece of his re-organised empire. After his death used as an entity for all new major projects.

MJJ Productions LLC
Register date: 10/30/1979
County: Delaware, California
Ownership: 100%
Profile: Intellectual property, general.
Established by MJ was responsible for all things done by MJ as an adult artist. Later has been replaced by The Michael Jackson Company LLC.

MJJ Ventures Inc.
Register date: 02/26/1991
County: Delaware, California
Ownership: 100%
Profile: Intellectual property, especially videos.
Established by MJ was responsible for certain video related projects along with Sony, releasing motion pictures. Later has been replaced by The Michael Jackson Company LLC.

MJJ Artistic Inc.
Register date: 01/04/1990
County: California
Ownership: 100%
Profile: Intellectual property.
The exact profile of this entity is unknown, but most probably owns IP to MJ's graphic ventures from the early 90's.

Triumph International Inc.
Register date: 03/09/1984
County: California
Ownership: 100%
Profile: Intellectual property, trademarks.
Established by MJ still responsible for all major intellectual property related deals.

Optimum Productions Inc.
Register date: 09/21/1983
County: California
Ownership: 100%
Profile: Intellectual property, especially video releases.
Established by MJ was responsible for certain video releases.

Go For Your Dreams Foundation
Register date: 10/10/2003
County: California
Ownership: 100%
Profile: Foundation.
Established by MJ was responsible for a failed charity initiative. It's recent profile is still unkown.

Enchanted Kingdom LLC
Register date: 03/17/2008
County: Nevada
Ownership: 100%
Profile: Real estate.
Established by MJ was responsible for certain projects while he resided in Las Vegas. It's recent profile is still unknown.

MJJ Records LLC (aka. MJJ Music)
Register date: 09/04/1997
County: Delaware
Ownership: 50%
Profile: Master recordings.
However the Californian entity has been just forfeited, it still manages the joint venture between the Estate and Sony.

Cirque Jackson I.P. LLC
Register date: 08/19/2010
County: Delaware
Ownership: 50%
Profile: Intellectual property.
Estate owns this company along with Cirque de Soleil to manage the "Immortal World Tour" project.

Sycamore Valley Ranch Co. LLC
Register date: 07/15/2008
County: Delaware
Ownership: 87.5%
Profile: Real estate.
Estate owns majority of MJ's Neverland Valley Ranch through this entity. Colony Capital is the minority owner.

SEE Virtual World MJ LLC
SEE Virtual World MJ Operations LLC
Register date: 02/26/2010 and 10/14/2009
County: California
Ownership: 0%
Profile: Intellectual property.
This company licenses certain rights to build a virtual world for MJ under PlanetMichael.com. The Estate receives a significant percentage from the incomes.

World Events LLC
Register date: 04/10/2001
County: Delaware
Ownership: 70%
Profile: Intellectual property.
Estate owns this company along with David Guest to manage certain rights related to the "30th Anniversary Concerts".

Desert Auto LLC
Register date: 02/21/2008
County: Nevada
Ownership: 100%
Profile: Unknown.

521 Montana Joint Venture LLC
Register date: 10/30/1990
County: California
Ownership: 5.5%
Profile: Unknown.

PPB LLC and PPB II LLC
Register date: 11/04/2010
County: Delaware
Ownership: 100%
Profile: Trust.
Estate most probably fuels the money through these entities to the beneficiaries of MJ's will.

PPB (NV) LLC
Register date: 06/27/2012
County: Nevada
Ownership: 100%
Profile: Trust.
Estate most probably fuels the money through these entities to the beneficiaries of MJ's will.

MJ Publishing Trust, New Horizont Trust, New Horizont Trust II
Register date: 11/30/1998
County: Delaware
Ownership: 100%
Profile: Trust.
Estate holds MJ's and other artist's copyrights against certain debts.

MJ-ATV Publishing Trust, New Horizont Trust III
Register date: 02/09/1999
County: Delaware
Ownership: 100%
Profile: Trust.
Estate holds the Beatles' and other artist's copyrights against certain debts.
 
Do you think randall jr is totally clueless about his father or is he just as bigger a B.S er as his dad. Either way its at least cheered me up abit that hes supposedly so upset or maybe its just a front cause im sure he wont say no when katherine comes to hand out her new loan money

Pretty please someone whos on twitter educate randall jr about his father trying to steal the cat off mj so he could get his middle man cut. I'll love u for ever!! LOL
 
Billie Jean 78 said:
Is it safe to say that Michael is turning in his untimely grave?

Is it safe to say NR. 2 that PPB will have lot's of new "friends" over the next few years, especially from the own wide family?

Is it safe to say NR. 3 that Mrs. Jackson will probably soon need a substantial raise of her pocket money to cover her growing living expenses?
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At the first one, probably yes.
Nr 2 most likely, however they got taught well by their father to be cautious on who to trust.
Nr 3 NO because Mrs Jackson isn't a money grubbing vulture, it's already bad enough that she has to deal with the loss of another child. (She lost Marlon's twin Brandon when he was only a baby)
 
Princess nishea;4141212 said:
"....Money also continues to roll in thanks to the strength of the Mijac Music catalog, which holds the rights to MJ's recordings and masters, as well as music by Sly and the Family Stone, Ray Charles, Presley and Aretha Franklin."

I'm happy that MJ has them but I wonder what made him want some of Aretha Franklin's and Elvs Presley's music.
I know both artist are profitable, but it's so random LOL. :)
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I dont know If all Elvis songs are in Mijac Music, but here is the full list of 60 Elvis Presley songs:


AN AMERICAN TRILOGY (Mickey Newbury)
AND THE GRASS WON’T PAY NO MIND (Neil Diamond)
BIG BOSS MAN (Al Smith/Luther Dixon)
BOSSA NOVA BABY (Jerry Leiber/Mike Stoller)
BURNING LOVE (Dennis Linde)
DIRTY DIRTY FEELING (Jerry Leiber/Mike Stoller)
DON’T (Jerry Leiber/Mike Stoller)
DON’T CRY DADDY (Mac Davis)
FOOLS FALL IN LOVE (Jerry Leiber/Mike Stoller)
FUNNY HOW TIME SLIPS AWAY (Willie Nelson)
GET BACK (John Lennon/Paul McCartney)
GIRLS, GIRLS, GIRLS (Jerry Leiber/Mike Stoller)
HE IS MY EVERYTHING (Dallas Frazier)
HEARTBREAK HOTEL (Mae Boren Axton/Tommy Durden/Elvis Presley)
HELP ME (Larry Gatlin)
HEY JUDE (John Lennon/Paul McCartney)
HOT DOG (Jerry Leiber/Mike Stoller)
HOW’S THE WORLD TREATING YOU (Chet Atkins/Boudleaux Bryant)
I CAN’T STOP LOVING YOU (Don Gibson)
I FEEL SO BAD (Chuck Willis)
I LOVE YOU BECAUSE (Leon Payne)
I WANT TO BE FREE (Jerry Leiber/Mike Stoller)
IN THE GARDEN (Gordon Stoker/Neal Matthews)
IN THE GHETTO (Mac Davis)
IT’S A SIN (Fred Rose/Zeb Turner)
JAILHOUSE ROCK (Jerry Leiber/Mike Stoller)
JUST TELL HER JIM SAID HELLO (Jerry Leiber/Mike Stoller)
KING CREOLE (Jerry Leiber/Mike Stoller)
LAWDY MISS CLAWDY (Lloyd Price)
LITTLE EGYPT (Jerry Leiber/Mike Stoller)
LONG TALL SALLY (Richard Penniman/Entoris Johnson/Robert Blackwell)
LOVE COMING DOWN (Jerry Chesnut)
LOVE LETTERS (Victor Young/Edward Heyman)
LOVE ME (Jerry Leiber/Mike Stoller)
LOVING YOU (Jerry Leiber/Mike Stoller)
MAKE THE WORLD GO AWAY (Hank Cochran)
MIRACLE OF THE ROSARY (Lee Denson)
NEVER AGAIN (Billy Edd Wheeler/Jerry Chesnut)
ONE NIGHT (Dave Bartholomew/Pearl King/Anita Steiman)
RELEASE ME (Eddie Miller/Dub Williams/Robert Yount)
RIP IT UP (Robert Blackwell/John Marascalco)
SANTA CLAUS IS BACK IN TOWN (Jerry Leiber/Mike Stoller)
SAVED (Jerry Leiber/Mike Stoller)
SHE’S NOT YOU (Jerry Leiber/Mike Stoller/Doc Pomus)
STEADFAST, LOYAL, AND TRUE (Jerry Leiber/Mike Stoller)
SUSPICIOUS MINDS (Mark James)
SWEET CAROLINE (Neil Diamond)
THAT’S WHEN YOUR HEARTACHES BEGIN (Fred Fisher/Billy Hill/William Raskin)
THERE GOES MY EVERYTHING (Dallas Frazier)
TREAT ME NICE (Jerry Leiber/Mike Stoller)
TROUBLE (Jerry Leiber/Mike Stoller)
T-R-O-U-B-L-E (Jerry Chesnut)
TUTTI FRUTTI (Richard Penniman/Dorothy LaBostrie/Joe Lubin)
WALK A MILE IN MY SHOES (Joe South)
WEAR MY RING AROUND YOUR NECK (Russell Moody/Bert Carroll)
WELCOME TO MY WORLD (Ray Winkler/John Hathcock)
WITCHCRAFT (Dave Bartholomew/Pearl King)
YESTERDAY (John Lennon/Paul McCartney)
(YOU’RE SO SQUARE) BABY I DON’T CARE (Jerry Leiber/Mike Stoller)
 
BTW, did you know that ATV catalog was once administered by EMI Music?
from my archive:

THE MEDIA BUSINESS; EMI to Pay Michael Jackson $70 Million to Manage Music
By ANDREA ADELSON
Published: Thursday, November 25, 1993

The pop singer Michael Jackson said through his lawyer yesterday that EMI Music Publishing would begin managing his 6,000-title music catalogue, which includes most early Beatles hits, in a deal being described as the most lucrative in music publishing.

Mr. Jackson will receive $70 million in advance against revenue that EMI expected to generate managing the publishing rights to ATV Music. The catalogue, acquired by Mr. Jackson in 1985 for $47.5 million, includes the classic Lennon-McCartney Beatles compositions, as well as songs from Little Richard, Elvis Presley and the Pointer Sisters.

Total revenue over the deal's five-year term is estimated to be $150 million, said Martin N. Bandier, president of EMI Music Publishing, which controls 900,000 songs in its own catalogues. Financing for Acquisitions

As part of the deal, EMI had agreed to provide financing for acquisitions of other music catalogues in a partnership arrangement, in which EMI and the singer would share future ownership.

Such an arrangement increased the value of the deal, making it the largest in music publishing, according to John Branca, Mr. Jackson's lawyer.

The deal comes at a difficult time for the singer. Mr. Jackson, who recently ended a world tour so he could be treated for addiction to pain-killers, is believed to be receiving medical treatment in London, according to British news reports. He is facing a lawsuit in California by a 13-year-old boy, who contends Mr. Jackson sexually molested him. Mr. Jackson has denied the charges. Criminal investigations into the allegations are being conducted, and the boy's civil suit has been set for trial on March 21.

"ATV's use and value is impervious to Michael's own success," Mr. Branca said.

ATV, along with Mijac Music, which controls rights to Mr. Jackson's own song writing, make Mr. Jackson one of the largest independent music publishers in the world, Mr. Branca said. Mijac Music is excluded from the EMI deal. 'Major Additions'

"We expect major additions in the next few years," he said, noting that a probable first target would be the Jobete catalogue of the Motown Records Corporation, owned by Barry Gordy. Several years ago, Mr. Gordy turned down a $175 million offer for Jobete, which then had half the revenue of ATV, Mr. Branca said. Last year, ATV had sales of $25 million.

Mr. Bandier of EMI said his company had managed ATV Music under its previous owner, Robert Holmes a Court, the late Australian financier. And EMI had outbid Mr. Jackson by $500,000 for the ATV catalogue in 1985. "But when Michael agreed to go to Perth to perform at a charity benefit I knew we were out of luck," Mr. Bandier recalled. "We can't moonwalk."

MCA, a unit of the Matsushita Electric Industrial Company, had managed the ATV catalogue under a three-year contract that will expire on Dec. 31.
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In 1976, MJ formed MiJac Music, two years later, he and Randy formed Miran Publishing, Jackie had his own publishing too, Siggie Music.

In 1980, the Jacksons formed Peacock Productions. Joseph Jackson had started Joseph Jackson Productions around the same time.

So MJ probably did know a bit before hearing about buying stock from other musicians. So after he fully established him as a musician, he and his attorney looked at what was the most valuable thing to buy and that was the Northern Songs/ATV catalog, which just happened to include 200 of the Beatles' songs but they had other songs in there by other artists. I hate it now how people keep referring to it as "The Beatles catalog" when it's not, the only reason they call it so is because the Beatles signed rights to some of their songs to Northern Songs in 1969 after settling a lawsuit.

MJ also bought the South Carolinian state anthem, I forget what year. I don't know if he gets a lot of money for that but sensing it's a state song he probably does own a lot of stock on it. I wonder which of the catalogs it's under?

MJJ Music could've worked out had MJ moved the label to another distributor and not through Epic. Because it did have some success but at the end it fell out of favor as did the artists who signed with them (3T, Brownstone, etc.).

Sony have no control over Michael's music from 1979-88. Michael now owns the masters to all of his albums from Off The Wall to Invincible to Thriller25 etc, plus he owns all of his music videos that are sold on iTunes except for 2 or 3 videos. Just go to iTunes and you will see that all of Michael's albums are licensed to MJJ Productions.Inc, not Sony BMG Entertainments as The Jacksons albums are.

Mijac is thought to be worth roughly $100-150 million, according to many reports.
 
elusive moonwalker said:
Do you think randall jr is totally clueless about his father or is he just as bigger a B.S er as his dad. Either way its at least cheered me up abit that hes supposedly so upset or maybe its just a front cause im sure he wont say no when katherine comes to hand out her new loan money

Pretty please someone whos on twitter educate randall jr about his father trying to steal the cat off mj so he could get his middle man cut. I'll love u for ever!! LOL
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:)

Ragy jr has been educated (seemingly many times by the look of replies to his twit:)) but I'm sure he thinks its different thing when his father was trying to screw MJ out of his catalogue and tried to hijack the whole estate for that matter:scratch:
 
FYI

Jackson sues Universal Music Group over royalties

Jet, June 2, 2003


Michael Jackson, the King of Pop, has sued Universal Music Group, claiming the world's largest record company owes him royalties for the re-release of songs he made in the 1970s.

The lawsuit accuses Universal Music Group of violating a 1980 agreement to pay Jackson royalties from recordings he made from 1969 to 1976 with the Jackson 5 and as a solo artist for Motown Records, which was acquired by Universal Music Group.

Universal Music Group spokesman Bob Bernstein declined comment at JET press time.


According to the lawsuit that was recently filed in the Los Angeles Superior Court, Jackson reached a settlement with Motown Records in 1980 that forfeited his right to royalties for songs released before that time. But Motown was to pay Jackson royalties for previously unreleased material and songs re-released on the best of compilations, according to the lawsuit.

The lawsuit seeks an accounting of royalties owed and unspecified damages. Jackson also wants the 1980 settlement voided and seeks ownership of his Motown master recordings.
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This lawsuit against Universal faded away.. but the POINT to remember is that there IS an agreement made with Universal/Motown to pay Mike of any music made from 1969 to 1976 with the Jackson 5 and as a solo artist for Motown Records, which was acquired by Universal Music Group..


so to me that means Michael is to be paid on any songs he was involved with from 1969 onwards..
so ... Universal... Sony... is suppose to be paying something to Michael regularly...

Question is did he get PAID the royalties?
If not then it didn't go all the way he thought. The Jackson family signed a contract that didn't allow them to get royalties from their Motown singles. The Jackson 5 and Michael's solo Motown work are in the hands of Berry Gordy's Jobete Publishing Co. THAT'S why Michael made the deal he made with Epic in 1991 to assure him royalties. He probably does got the masters, but he's not making the most money off it unless it's songs he wrote.

MJ is getting more off from his deals with Epic than he is from Motown. Plus let it be reminded that the original lawsuit (not the 2003 one) was filed by Joseph Jackson since the J5 didn't get much money off the hits they made w/Motown during the Berry Gordy era of the label. Michael and Universal had to settle on a good payment in 2003 but whatever was agreed upon is speculation.

The Jackson 5's work is still owned by Universal, including the songs Michael, Jackie and Jermaine worked on solo.

Except for Stevie, portions of Marvin's works, Smokey Robinson's work and the copyright of The Temptations' name, everything else is in Motown's catalog. It ain't no secret that the Jackson 5 signed the same kind of contract that caused them not to own masters of anything. Any royalties they get from re-releases is just that tho.
The reason the Jacksons probably don't pursue it more is because they made better investments in Epic.

So if it's Motown re-releases, then mainly that's because MJ agreed to Motown releasing it in hopes the money made off those albums go to him and his brothers. Other than that, they hardly get royalties from when the songs are played on the radio.
Whoever wrote/produce/owns the song gets more money than the artists. Willie Hutch, who wrote "I'll Be There" and arranged that song and "Never Can Say Goodbye" got more royalties on the J5 recordings than the Jacksons did.
As far as writers, some of them made deals with Motown to get them royalties on songs. Not everything goes to Berry Gordy. I'm sure DeBarge still gets paid for songs they WROTE that have been sampled on hip-hop songs.
The Jackson 5 never got their own penned songs recorded at Motown.
 
Girl;41411121. said:
.5. Being part-owner of the Beatles catalog may have been a badge of honor for him,....................
6. I realize some people have an emotional attachement to the idea of Michael owning this particular musical catalog, but I think they should stop and wonder if the braggin' rights about it, as they were aptly called, really are worth the postponement by decades of the clearing of debts and the freedom to pursue new avenues which comes from that.
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The catalog is the money making machine for him. It's not just an asset you can sell when it appreciates. This's on-going gravy train that's going to put food on the table for PPB3 and extended family. How many investments out there you can you count bring in revenue of 17M annually? Top of my head... maybe Star Wars franchise, Marvel's DC Comics franchise or Coca Cola receipe. You'd fight tooth & nail to keep it no matter what.
Losing it happens only in a distressed situation, backing you to corner, leaving you with no other option.
Can't help but notice the irony in that particular line inside of a Forbes article. They sure are gushin' over this particular deal, aren't they? lol I distinctly remember articles of theirs in the early 00s when they could swear Michael was debt-ridden and all done. Turns out the first part was actually accurate. Makes you wonder though, doesn't it?
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I call it a gloat in disguise. He has lost one of the most epic golden goose of all time, small consolation that Forbe's toneing down their condescending and disparaging rheotric they've been used to. Hands a drowning dog a bone....
 
Nr 3 NO because Mrs Jackson isn't a money grubbing vulture, it's already bad enough that she has to deal with the loss of another child. (She lost Marlon's twin Brandon when he was only a baby)
-----------------

Really? LOL Is that why shes just filed a motion asking for yet another loan. Shes done nothing but money grab the last 7 years with all her requests for yet more money .before mj was even cold they tried to take over mj estate.lets not forget the wonderful AEG failed money grab.the list goes on and on and on.....

Thanks bubs and thanks to those giving steven jr some facts
 
Bubs;4141211 said:
Hee-Hee! Big Firms and Boutiques Moonwalk to Michael Jackson Sale
Branca’s dual roles representing Jackson’s estate and serving on the board of directors for Sony/ATV emerged in hacked emails at Sony last year. Citing information included in those leaks, the New York Post reported that Branca’s salary as a senior adviser to Sony was $500,000 in 2014 and poised to rise to $1 million in 2016.
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No conflict of interest at all.
Didn't Branca say in 2012 that the Estate was already debt free? Now he says
that they still had 250 m. ****ing liar.


Bubs;4141211 said:
Santa Monica, California-based litigation boutique Kinsella Weitzman Iser Kump & Aldisert—led by name partner and longtime Hollywood lawyer Howard Weitzman—is also serving as litigation counsel to Jackson’s estate on the sale of its stake in Sony/ATV. Weitzman did not return a request for comment.
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What is a man who was on TV saying he "choose to believe he is not a pedophile" doing anywhere near MJ's Estate?
Why is he profiting from MJ fans? **** that


I don't get how someone whom MJ fired and absolutely did not trust after 2003 could end up at the head of his Estate
and make these monumental decisions.


mjchris;4141208 said:
its better to use medications in the normal way, without getting addicted. and without abusing it.
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I decide how much I need and noone has any business to say that that much is abuse.
also you can get addicted without even noticing it it's a side effect but who cares when you are in pain arond the clock
you won't give a **** about addiction down the road. You just want the pain to go away. Especially if you are
sensitive as MJ was.
MJ got addicted to opioids without even knowing how it happened. He never took anything himself
everything was given to him when he was in pain for weeks because he actually DID need it just to go through the day.
By Aug 1993 he was hooked. It could happen to anyone.

ivy;4140769 said:
why wouldn't he? perhaps he tried to raise $750 Million to buy Sony's share but didn't succeed. Money doesn't grow on trees.
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Not realistic.
Is it only Sony who sees the potential of this catalog?

3) the Michael Jackson estate did a great bit of business…

When announcing the sale of the Sony/ATV stake, John Branca and John McClain, Co-Executors of the Jackson Estate, made sure to note how smart a deal this was for all concerned.

In a joint statement, they said: “[Michael’s] ATV catalogue, purchased in 1985 for a net acquisition cost of $41.5 million, was the cornerstone of the joint venture and, as evidenced by the value of this transaction, is considered one of the smartest investments in music history.”

Simple maths shows they have a very solid point.

Buy for $41.5m. Sell for $750m.

That’s an 18-times return on investment.

Shamone.
SPOTIFY4) … But not as great as Sony
http://www.musicbusinessworldwide.com/sonys-buyout-of-sonyatv-5-things-you-need-to-know/
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So it's such a good business for Sony but Branca couldn't find 5-10 investors who sees the same thing?
You can be sure he never really tried. There is no evidence that he did. He works for Sony. Sony wanted this catalog
BADLY. They knew while MJ is alive they cannot get it because MJ would have found other investors.
Their only chance of getting it was MJ being dead. And that luckily a guy who was really cozy with them
and whom MJ absolutely didn't trust after 2003 ends up as his Estate's executor based on a 2002 will.
And conveniently a few years later Sony triggers the shotgun clause, Branca pretends that he is surprised by that (more bullshit)
Sony gets the catalog and Branca gets his share of the money.
 
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Well, this sucks. Michael spent his final years trying to keep his stake of the Beatles' catalog and it's what kept him financially afloat during those years. If he were still alive, Michael never would have sold it.
 
christy said:
The catalog is the money making machine for him. It's not just an asset you can sell when it appreciates. This's on-going gravy train that's going to put food on the table for PPB3 and extended family. How many investments out there you can you count bring in revenue of 17M annually? Top of my head... maybe Star Wars franchise, Marvel's DC Comics franchise or Coca Cola receipe. You'd fight tooth & nail to keep it no matter what.
Losing it happens only in a distressed situation, backing you to corner, leaving you with no other option.


I call it a gloat in disguise. He has lost one of the most epic golden goose of all time, small consolation that Forbe's toneing down their condescending and disparaging rheotric they've been used to. Hands a drowning dog a bone....
Click to expand...

It has not been a gravy train in the past few years. Yes, the Estate got about $17 million a year on paper, but it was all paid back because of the debts. So it wasn't what put food on PPB's table.

If the Estate had bought Sony's share that would have meant they should have got themselves in yet another big debt instead of paying their debts back (I have doubts the Probate Judge had even allowed that) and those debts would burden the catalogue for many years or even decades to come until it would start to produce actual profit for the heirs. Meanwhile the Estate would have put all or most of their financial resources into this one basket which is always much more risky than making diverse investments. Also, I think the costs of the management of the catalogue would be higher for the Estate than for Sony, because Sony already has a strong infrastructure to market those rights. The Estate does not have that infrastructure and to create at least some of them to work effecively would create additional costs. So it would rather cost them a lot of money before it would start producing profit in many, many years to come. And who knows where the music industry will be by then?

The alternative was this that we see here: get rid of all debts, get money and diversify your investments.
 
Bubs;4141250 said:
Do you think you are qualified to call anyone as liar if you yourself cannot read?
http://www.forbes.com/sites/zackoma...aid-off-just-in-time-for-bad-25/#25e3a6d04855

How many times this has to be posted here before people get it???????????
Click to expand...

Funny how people call Branca a liar when it's them with the reading comprehension or memory problems about what was said in 2012.

Yesterday a representative of the singer’s estate confirmed to FORBES that, on Monday, the estate paid off the last dollars on a loan connected to Mijac Music, the catalog that’s home to many songs composed by the King of Pop, including hits like “Beat It” and “Billie Jean.”
Click to expand...

Since when is MiJac=Sony/ATV?

The article even explicitly stated that the Sony/ATV debt still remains:

There are still some business debts left for Jackson, namely a loan that FORBES estimates at $280 million, connected to the Sony/ATV publishing catalog.
Click to expand...
 
Bubs said:
Do you think you are qualified to call anyone as liar if you yourself cannot read?
http://www.forbes.com/sites/zackoma...aid-off-just-in-time-for-bad-25/#25e3a6d04855
Click to expand...

1. What makes you think that I read the Forbes article? I did not. I heard the news about the debt from other sources.

2. If that's true how come they couldn't pay that off since 2012 when they earned more than 100 m+ in every years since 2012, 160m in 2013 alone?
The revenue from the catalog was about 300 m / year. No way the Estate's profit was only 17m from that.
(we'll see how much the catalog brought it in 2017 the first year and the Estate's total earnings won't include anything related to Sony/ATV)
So now they say that the debt was still 250 m right before this deal when it was an estimated 280m in 2012! So what did they do in 2013 2014 2015?
Pay off 30 million while they earned about 400 million? They earned 9-figures for 9 years and they still need to sell the catalog to pay off 250 million?
 
redfrog said:
1. What makes you think that I read the Forbes article? I did not. I heard the news about the debt from other sources.

2. If that's true how come they couldn't pay that off since 2012 when they earned more than 100 m+ in every years since 2012, 160m in 2013 alone?
The revenue from the catalog was about 300 m / year. No way the Estate's profit was only 17m from that.
(we'll see how much the catalog brought it in 2017 the first year and the Estate's total earnings won't include anything related to Sony/ATV)
So now they say that the debt was still 250 m right before this deal when it was an estimated 280m in 2012! So what did they do in 2013 2014 2015?
Pay off 30 million while they earned about 400 million? They earned 9-figures for 9 years and they still need to sell the catalog to pay off 250 million?
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You are funny:)
If you read TMZ or DailyFail, it is your own fault that you are not up to date whats going on as they are tabloids, not source of actual information.

Happy readings, that'll keep you occupied for hours if not days
http://www.dailymichael.com/the-estate

Don't forget that the estate was and still is 50-50 partner with Cirque, it also means they had to pay half of creation of the two shows.
 
respect77 said:
It has not been a gravy train in the past few years. Yes, the Estate got about $17 million a year on paper, but it was all paid back because of the debts. So it wasn't what put food on PPB's table.

If the Estate had bought Sony's share that would have meant they should have got themselves in yet another big debt instead of paying their debts back (I have doubts the Probate Judge had even allowed that) and those debts would burden the catalogue for many years or even decades to come until it would start to produce actual profit for the heirs. Meanwhile the Estate would have put all or most of their financial resources into this one basket which is always much more risky than making diverse investments. Also, I think the costs of the management of the catalogue would be higher for the Estate than for Sony, because Sony already has a strong infrastructure to market those rights. The Estate does not have that infrastructure and to create at least some of them to work effecively would create additional costs. So it would rather cost them a lot of money before it would start producing profit in many, many years to come. And who knows where the music industry will be by then?

The alternative was this that we see here: get rid of all debts, get money and diversify your investments.
Click to expand...
Diversify is the operative word here,and be debt-FREE especially in turbulent times. I wasn't looking at the estate to buy over Sony's share.
Michael already lost it few days before foreclosure when he signed the deal in 2006. What's done is done. Sony could have exercised their right 10 years ago, but didn't. Only till now. I'd only wished Michael had other options for a bail out 10 years ago. Now with the cash payout now they get to have, eliminate all of their debts & choose their investment strategies shrewdly and yes, DIVERSIFY.

 
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Bubs;4141257 said:
You are funny:)
If you read TMZ or DailyFail, it is your own fault that you are not up to date whats going on as they are tabloids, not source of actual information.
Click to expand...

And just exactly what makes you think that I read TMZ or DailyFail?
Quite silly to assume that TMZ of all things would even report anything about Mj's debt unless it's a way to trash him.
And it's not that Forbes or any media for that matter is automatically the gospel when it comes to MJ.
But if you think it is what about this?

Today, the Sony/ATV catalog itself is worth somewhere in the neighborhood of $2 billion, thanks to its ownership of copyrights by The Beatles, Bob Dylan, Taylor Swift, Lady Gaga and others. The interest rate on Jackson’s loan connected to the catalog has been sliced from 5.8% to 2.9% since his death. At that low rate, paying back the loan quickly, in full, may not even be financially expedient—the company’s funds could be better utilized by buying up new, money-generating copyrights.

That said, given Jackson’s postmortem earnings prowess, the estate could probably pay off that loan fairly soon if necessary. The singer’s Immortal World Tour, a joint venture with Cirque Du Soleil, has grossed $160 million this year, making Michael Jackson the top-grossing live act in North America three years after his death. Other deals–including one with Pepsi, Jackson’s first endorsement pact in two decades–should continue to add to the estate’s coffers.

http://www.forbes.com/sites/zackomal.../#a9c0a3e3a08d
Click to expand...


Bubs;4141257 said:
Don't forget that the estate was and still is 50-50 partner with Cirque, it also means they had to pay half of creation of the two shows.
Click to expand...

Still doesn't explain why right before this deal was made they still had 250m debt. Essentially unchanged since 2012
 
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I'm pretty sure Branca didn't try to find other investors either :smilerolleyes: He's a liar... May God strike him for being a liar and a fraud.. I don't trust him one bit.
 
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