The MJ Estate are close to a 50% sale of MJs catalog

[ChanceToDance]

Sony would make sense if the deal includes rights to the MJ musical and the biopic like someone said. Or it’s some movie studio that is involved in the biopic. I just hope that the deal involves a clause that the Estate has the final say about the biopic. If someone else owns the rights for the biopic, it could end in a disaster if they start meddling with it. Especially if the buyer is Oprah ir one of her minions…

Sony has a film division so it's still possible that it's them.

 

[beltrano]

Une chose que je ne comprends pas, y a-t-il déjà un acheteur ?

Sony

 

[beltrano]

D'après le libellé des articles, il semble qu'il y en ait déjà. J'ai pensé qu'au prix auquel le domaine vend le catalogue, il faudrait un certain temps à quelqu'un pour l'acheter. Il est très probable que ce soit une société qui l'achète, peut-être que c'est Sony ?

Sony $900,000,000

 

[kai]

why exactly is it a secret deal?

 

[Mister_Jay_Tee]

why exactly is it a secret deal?

Secret is just the new word for information that a stupid tabloid pap hasn't leaked yet. In other words, normal.

 

[Annita]

Katherine Jackson vs The Estate: The Saga continues - MJVibe

The dispute between the Michael Jackson Estate and Katherine Jackson regarding a secret deal is still on going.

www.mjvibe.com

The dispute between the Michael Jackson Estate and Katherine Jackson regarding a secret deal is still on going.

New court documents revealed that the Estate is fearing the legal opposition from Katherine Jackson might jeopardise the deal.

“Given the amount of time that an appeal will take, almost certainly more than a year, it is unlikely that this deal will be on the table for the Executors to accept at the conclusion of appellate proceedings, Offer of this magnitude are not typically left open for months or years at a time, with no certainty that they will ever close. This is particularly true here since the economics of the deal necessarily change with the passage of time.”

The filing noted that one family member’s objection is not that the deal is bad but rather the family member does not want to proceed with any such transaction of the kind.

It seems that the whole secret deal is about the selling of Michael Jackson own music catalog.

Both McClain and Branca claimed in court that the loss could be greater than $400 Million!

The judge still have to take a decision on the matter.

 

[wendijane]

Those who truly know, know how bad this is. MJ was so against this

thats why i cant with this anymore..

 

[BuffaloBill87]

thats why i cant with this anymore..

The Estate is a business and about making as much money as possible.

If it means sustainability for the estate for decades to come, it's a no brainer. MJ may not have wanted this, but we have to remember how much debt he was in before he died.

The Estate have turned everything around and made him and his child profitable.

 

[Hess]

MJ was very much against it... YES - but that was a totally different time. Different situation.

Last time MJ talked about this was even before 2008 wasn't it?

The music industry is totally different and if MJ had been alive I could easily see him doing this himself.

He would get an enourmous amount of money and would still own 50 %

Many of the big old artists are selling their catalogs these days.

So to say MJ was against it 20 years ago and make it an argument to why not sell it today makes no sense.

MJ himself was against SONY in 2001 - but he renewed his contract and wanted to continue working with SONY afterwards... MJ also changed his mind and made the best business dicisions at the time of the decision. - Then what he had previously said was all forgotten and he focused on the present and the future. So would MJ do if he was alive today.

 

[wendijane]

the profile pic has changed

 

[SilkySnare]

Interesting how people say "Michael would not have wanted this, but these are different times" when it comes to selling his catalogue.
But when some of us say this exact thing regarding sharing his unfinished songs, those same people jump through the roof.

 

[Gaz]

Is this MiJack?

 

[SmoothGangsta]

Kinda wondering what exactly it is that they are trying to sell.

 

[Zeus 7]

The Estate is a business and about making as much money as possible.

If it means sustainability for the estate for decades to come, it's a no brainer. MJ may not have wanted this, but we have to remember how much debt he was in before he died.

The Estate have turned everything around and made him and his child profitable.

They turned it around by selling things Michael could have sold in his lifetime and chose not to, the Estate have 3 successfull products, One, MJ the musical and This Is It, all because they are Michael, Michael is the draw, not Branca

 

[BuffaloBill87]

They turned it around by selling things Michael could have sold in his lifetime and chose not to, the Estate have 3 successfull products, One, MJ the musical and This Is It, all because they are Michael, Michael is the draw, not Branca

That is true but by selling those assets it has done what every successful business does - make money.

Nobody said that Michael was not the draw, he is the reason why we're here. MJ in the later years of his life was not a smart businessman, would have potentially gone completely bankrupt if he continue to live the way he did.

The estate have done a fantastic job.

 

[Annita]

Katherine Jackson's response to the Estate in the "Deal" saga - MJVibe

In new court documents, Katherine Jackson is stated that the Estate claim that she is jeopardise the deal is non-sense.

www.mjvibe.com

The dispute between the Michael Jackson Estate and Katherine Jackson regarding a secret deal is still on going.

In new court documents, Katherine Jackson is stated that the Estate claim that she is jeopardise the deal is non-sense.

Katherine said the estate’s argument is purely speculative. She argued they have no idea if the deal would be gone or not once the appeal is handled.

“the Executors present a parade of horribles that will allegedly occur if Katherine is allowed to exercise her constitutional right of appeal, but a great deal of what they say is based upon assumptions, speculation or factual assertions that were not presented at trial.”

She argued the executors should determine in “advance whether the beneficiaries (“the people the executors are supposed to be representing”) are interested in pursuing whatever transaction the Executors believe should be pursued.”

She said Michael’s children and her all live in Los Angeles and are “obviously available for discussions. As the ultimate owners of all these assets, they should be consulted before the Executors seek to sell some of all of their unique inheritance.”

Michael’s mother said she was “not consulted about this transaction at any time before she was served with a petition for its approval. At her first reasonable opportunity, she let her wishes be known.”

Katherine demanded her appeal move forward and the executors not be allowed to move forward with the deal.

 

[Mister_Jay_Tee]

That is true but by selling those assets it has done what every successful business does - make money.

Nobody said that Michael was not the draw, he is the reason why we're here. MJ in the later years of his life was not a smart businessman, would have potentially gone completely bankrupt if he continue to live the way he did.

The estate have done a fantastic job.

No songs coming in the next two years, yeah great job.

 

[Mister_Jay_Tee]

MJ was very much against it... YES - but that was a totally different time. Different situation.

Last time MJ talked about this was even before 2008 wasn't it?

The music industry is totally different and if MJ had been alive I could easily see him doing this himself.

He would get an enourmous amount of money and would still own 50 %

Many of the big old artists are selling their catalogs these days.

So to say MJ was against it 20 years ago and make it an argument to why not sell it today makes no sense.

MJ himself was against SONY in 2001 - but he renewed his contract and wanted to continue working with SONY afterwards... MJ also changed his mind and made the best business dicisions at the time of the decision. - Then what he had previously said was all forgotten and he focused on the present and the future. So would MJ do if he was alive today.

MJ already sold a portion of his catalog a long while ago. He just got a good deal outta it. It's literally just a lateral move that you have to have power to do, it obviously makes no sense to sign away your rights early in your career. In the late game is a different story.

 

[Annita]

MJ already sold a portion of his catalog a long while ago.

That is not right. He did not sell rights from his catalog.

 

[Mister_Jay_Tee]

That is not right. He did not sell rights from his catalog.

Not even his ownership of others catalog?

 

[Annita]

Not even his ownership of others catalog?

With the Beatles-catalog he made a joint venture with Sony to Sony/ATV so that it becomes a huge catalog, not only Beatles, many rights from other artists and they were both co-owner.

 

[BuffaloBill87]

No songs coming in the next two years, yeah great job.

Unreleased songs have very little value to the wider public.

It's the catalogue of hits , the ones that continue to be the base of the Broadway shows that is the money maker.

So yeah , doing a great job

 

[SmoothCriminal1995]

I'm still not cool with idea. Michael spoke publicly about his pride in owning his own catalogue.

Selling it, so that it can be known as "the biggest deal in music" doesn't sit right with me

 

[Agonum]

Katherine Jackson's response to the Estate in the "Deal" saga - MJVibe

In new court documents, Katherine Jackson is stated that the Estate claim that she is jeopardise the deal is non-sense.

www.mjvibe.com

The dispute between the Michael Jackson Estate and Katherine Jackson regarding a secret deal is still on going.

In new court documents, Katherine Jackson is stated that the Estate claim that she is jeopardise the deal is non-sense.

Katherine said the estate’s argument is purely speculative. She argued they have no idea if the deal would be gone or not once the appeal is handled.

“the Executors present a parade of horribles that will allegedly occur if Katherine is allowed to exercise her constitutional right of appeal, but a great deal of what they say is based upon assumptions, speculation or factual assertions that were not presented at trial.”

She argued the executors should determine in “advance whether the beneficiaries (“the people the executors are supposed to be representing”) are interested in pursuing whatever transaction the Executors believe should be pursued.”

She said Michael’s children and her all live in Los Angeles and are “obviously available for discussions. As the ultimate owners of all these assets, they should be consulted before the Executors seek to sell some of all of their unique inheritance.”

Michael’s mother said she was “not consulted about this transaction at any time before she was served with a petition for its approval. At her first reasonable opportunity, she let her wishes be known.”

Katherine demanded her appeal move forward and the executors not be allowed to move forward with the deal.

Very fair points from Katherine.

 

[Mister_Jay_Tee]

With the Beatles-catalog he made a joint venture with Sony to Sony/ATV so that it becomes a huge catalog, not only Beatles, many rights from other artists and they were both co-owner.

But even after that:

After listening to Mr. Jackson, Robert S. Wiesenthal, a senior Sony executive, eventually proposed that Sony would help the singer find a bank to lend him more than $300 million to pay off his debts. In exchange, Mr. Jackson would possibly forfeit a portion of his half of the Beatles catalog.

Just last month, Mr. Jackson — still swamped in debt, with his musical career in stasis and his personal life limned by scandal — agreed to that financial overhaul. It is likely to strip him of about half of his remaining stake in the catalog, which he has relied on as a financial lifeline for about a decade. According to executives involved in the restructuring talks, Mr. Jackson used the catalog, as well as copyrights to his own songs, as collateral for roughly $270 million in bank loans he took out to fund a spending spree that includes upkeep for his sprawling California ranch, Neverland, and other exotic luxuries.

What Happened to the Fortune Michael Jackson Made? (Published 2006)

The pop star made millions with his outsize talent and marketing genius and he invested wisely, but then he went on a spending spree.

www.nytimes.com

 

[CherubimII]

If Michael Jackson wanted Katherine Jackson to be over his Estate, he would have named her as an executor of his estate.
He deliberately did not want his mother to make any decisions about his financial legacy.

 

[wendijane]

Katherine Jackson's response to the Estate in the "Deal" saga - MJVibe

In new court documents, Katherine Jackson is stated that the Estate claim that she is jeopardise the deal is non-sense.

www.mjvibe.com

The dispute between the Michael Jackson Estate and Katherine Jackson regarding a secret deal is still on going.

In new court documents, Katherine Jackson is stated that the Estate claim that she is jeopardise the deal is non-sense.

Katherine said the estate’s argument is purely speculative. She argued they have no idea if the deal would be gone or not once the appeal is handled.

“the Executors present a parade of horribles that will allegedly occur if Katherine is allowed to exercise her constitutional right of appeal, but a great deal of what they say is based upon assumptions, speculation or factual assertions that were not presented at trial.”

She argued the executors should determine in “advance whether the beneficiaries (“the people the executors are supposed to be representing”) are interested in pursuing whatever transaction the Executors believe should be pursued.”

She said Michael’s children and her all live in Los Angeles and are “obviously available for discussions. As the ultimate owners of all these assets, they should be consulted before the Executors seek to sell some of all of their unique inheritance.”

Michael’s mother said she was “not consulted about this transaction at any time before she was served with a petition for its approval. At her first reasonable opportunity, she let her wishes be known.”

Katherine demanded her appeal move forward and the executors not be allowed to move forward with the deal.

All this pressure for a lady of her age though . ..i am sure M would appreciate that.

 

[librariangirl:)]

Sure, Branca is not likable and a questionable character - I get that. But he is a hell of a businessman so I think it will all work out for the best.

 

[wendijane]

Sure, Branca is not likable and a questionable character - I get that. But he is a hell of a businessman so I think it will all work out for the best.

Mm.You're not kidding. Well i do know that in business there is no room for emotion..Does't make it right though

 

[librariangirl:)]

Mm.You're not kidding. Well i do know that in business there is no room for emotion..Does't make it right though