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

Pink Diamond Princess said:
Branca said it wouldn't be sold, and when he said this I imagine he knew about the buyout clause, so why say something that you can't be sure of or that you know is an outright lie?
I wonder what asset will be sold next.
Maybe it will be MIJAC, or Michael's masters.
After hearing him sit there and say that no assets would be sold then a few years later seeing what is quite possibly the biggest one being sold....all I have to say is don't be surprised at any future sellings.
I certainly won't be.

However, I do hope the estate is now solvent, and that they can pay any debt that they may have with this money.
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I used to on the estate's side not anymore


Michael's kids should sue them!
 
At least the 3 kids are financially stable for the rest of their lives, but I still wish they did it in another way rather that just giving $ony what they've been after for years. If Michael were still with us, there wouldn't even be one thought of selling the catalog.
 
I wonder why some fans seem to be upset with this when Michael himself agreed to that clause in 2006.

Also, the executors don't profit from this deal. TII and ATV catalog are and always have been excluded.
 
MichaelD said:
I wonder why some fans seem to be upset with this when Michael himself agreed to that clause in 2006.

Also, the executors don't profit from this deal. TII and ATV catalog are and always have been excluded.
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They may be like me and just find it sad and it hurts for him to lose something he loved so much to the end. And a lot of people don't understand that the execs won't profit from this-they think they are doing it for the money.
I don't know, of course, but I have the feeling that a lot of hatred for the executors stems from the Cascio tracks-that they think the executors deliberately duped us (I do not) and they are as evil as Sony. But it's also ignored that Michael continued to use Sony and Sony helped him to refinance his debt back then-they didn't have to, but they did-and that proves to me that they were never counting Michael out.
 
Considering how easy it was for sony to inact the clause part of me well alot of me wishes mj had just sold up because not only could sony pull the plug at any point but the most important factor of all. Mj would still be here. He died for what exactly. To keep the cat for a few more years after hes gone. A total curse.
 
8701girl said:
I used to on the estate's side not anymore


Michael's kids should sue them!
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Did you not read what is posted in the thread? Michaels Kids were asked and they had no objections for the sale of Sony/ATV.
 
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8701girl said:
I used to on the estate's side not anymore


Michael's kids should sue them!
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Prince, Paris, Katherine and Bigi all have their own separate legal counsel now, so I think if there were big objections, we'd see them in court.

etoile 37 said:
Will they profit from the investments they make with that money?
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Hard to say, I think. Each project had had its own negotiated deal.
 
You all know and understand that because the Estate were not paying their taxes that along with what they owe now as well as penalties they will owe all of this money to the IRS, right? So no one is "financially secure". Even if they were able to keep all of that money no one is "financially secure" ever because money no matter how large it is can not only all go away but go WAY into debts that people did not even know existed and for whatever reason not be put into prison. Michael proved that no matter how much money he would make he still manage to loose ALL of it AND go hundreds of millions of dollars into debt. I doubt his children with the reputation of their father and family will be able to hold onto a dollar without loosing it and others that they do not even have.
 
AlexRox said:
You all know and understand that because the Estate were not paying their taxes that along with what they owe now as well as penalties they will owe all of this money to the IRS, right? So no one is "financially secure". Even if they were able to keep all of that money no one is "financially secure" ever because money no matter how large it is can not only all go away but go WAY into debts that people did not even know existed and for whatever reason not be put into prison. Michael proved that no matter how much money he would make he still manage to loose ALL of it AND go hundreds of millions of dollars into debt. I doubt his children with the reputation of their father and family will be able to hold onto a dollar without loosing it and others that they do not even have.
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what? they did pay estate taxes :bored: It's the amount and the valuation that is being disputed.
 
AlexRox said:
You all know and understand that because the Estate were not paying their taxes that along with what they owe now as well as penalties they will owe all of this money to the IRS, right? So no one is "financially secure". Even if they were able to keep all of that money no one is "financially secure" ever because money no matter how large it is can not only all go away but go WAY into debts that people did not even know existed and for whatever reason not be put into prison. Michael proved that no matter how much money he would make he still manage to loose ALL of it AND go hundreds of millions of dollars into debt. I doubt his children with the reputation of their father and family will be able to hold onto a dollar without loosing it and others that they do not even have.
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And if everything is so bad then why to keep catalogue in all costs? To make everything even worse and absolutely hopeless?

To sell was the only right decision.
 
going back and forth and trying to separate the basic convo and actual news gets a little mixed up so what exactly is the summary of the latest info?
 
Will there be any money left after they pay their taxes, penalties, and everyone involved?
 
AlexRox said:
Will there be any money left after they pay their taxes, penalties, and everyone involved?
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IRS want 700 death tax or whatever ypu call it estate are fighting it. What penalities? and the executors make no money off the sale
 
IRS is applying 250 million in penalties for not paying the "proper" estate tax. They want everything. Surprised they didn't compromise and settle this but IRS got greedy reading the financial reports, I think.
 
Reading it with $$ signs in their eyes no doubt. I wonder how they are approaching other large estates.
 
barbee0715 said:
IRS is applying 250 million in penalties for not paying the "proper" estate tax. They want everything. Surprised they didn't compromise and settle this but IRS got greedy reading the financial reports, I think.
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Ah right.so they want that ontop of the amount they claim is owed.court will decide then
 
Can someone remind me again why Sony implemented the option for this to happen?!
 
AlexRox said:
Will there be any money left after they pay their taxes, penalties, and everyone involved?
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The amount of tax to be paid is not a set figure, at present. That is still to be worked out, via an agreement, or a court case. As the Estate continues to generate income annually, and still has ownership of Michael's songs (the MIJAC catalogue) of course there will be millions and millions available to pour into the Trust fund, when the Will exits probate.
 
I mentioned this in another thread but I really hope since this move was made that the estate does something meaningful with this money... MJ related!
 
News just broke that Paul is suing Sony for the songs because they haven't told him that he will get them back for sure in 2018.
Welp.

Just gon go ahead and quote myself from back in 2016.

Pink Diamond Princess said:
This is Sony you're talking about, so don't be so sure about those songs being returned.
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Whether or not Paul gets them I saw this coming with Sony.

The songs ain't Michael's anymore though, so I don't have a dog in this fight.
Just going to sit back, and watch this mess go down.
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I hope he doesn't get it back. He was a creep the entire time Michael owned it.
 
Justthefacts said:
I hope he doesn't get it back. He was a creep the entire time Michael owned it.
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He most likely will, the law states he has to but Sony just aren't confirming anything because they're trying to see if they can do anything as a result of the Duran Duran case (which was much more complicated, and also had different copyright laws applied to it).

Besides, Paul McCartney made it known that he wasn't keen on Michael's ownership in the first year or two but his attitude calmed down pretty quickly, saying in a late '80s interview that he no longer blamed MJ, that they were on the market after all. While he has always wanted it back (it's only natural), for the most part he moved on and their friendship continued, albeit with rarer catch-ups. Photos show they met backstage in the late 1980s, Paul visited the set of Black or White, he even defended Michael in 1993 during an interview.

It's really only the media and fans (of both parties) who've kept the spat between the two alive. Paul and Michael moved on eons ago.
 
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And certain people were saying The Estate were wrong to sell?

How's that looking now?
 
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