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Michael Jackson Estate’s $600 Million Catalog Sale to Sony Music is Still a Go — Court Decision Pushes Aside Family Objections

July 20, 2024
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Michael Jackson Estate’s $600 Million Catalog Sale to Sony Music is Still a Go — Court Decision Pushes Aside Family Objections
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Michael Jackson's estate

Photo Credit: Daniele Dalledonne / CC by 2.0

A California appeals court rules that Michael Jackson’s $600 million catalog sale to Sony Music can move forward, despite objections from the family.

Michael Jackson’s mother and other members of the late singer’s family vehemently objected to the estate’s plans to sell half of his music catalog ($600 million) to Sony Music, arguing it violated the terms of Michael’s will. Now, a California appeals court has tentatively ruled that the sale can move forward.

Katherine Jackson, the singer’s mother, had argued that the deal violated the terms of her son’s will, but the court ruling found that she had “forfeited” her argument by failing to make and properly defend it before a lower probate court. But even if she had properly raised the argument, the appeals court says the estate’s executors still have the power to make the sale. Jackson’s will had, according to the court, vested the executors (John Branca and John McClain) with the authority to “sell, invest, or otherwise manage estate property.”

“The court is tentatively inclined to affirm the probate court’s order granting the executors’ request to proceed with the transaction,” wrote the appeals court. “We tentatively conclude that Katherine’s challenge fails on the merits because the probate court’s order does not violate the terms of Michael’s will.”

The tentative ruling will still have to be finalized before it is formally entered, but still indicates how the court plans to rule overall. Earlier this year, Sony Music reached an agreement with the Jackson Estate that will see it gaining half of the singer’s publishing and recorded masters catalog for over $600 million.

However, Jackson’s Estate is still pending before a Los Angeles probate court over 15 years since the singer’s death in 2009, and dealings between the family and the executors have been continually rife with conflict. The executors took the then-confidential Sony deal to Judge Mitchell Beckloff for approval, which led to Katherine Jackson filing her objections. Beckloff rejected her objections back in April 2023, ruling that the deal could move forward. Katherine filed an appeal, which led to the court’s tentative decision this week.

Further demonstrating the problems among Jackson’s heirs with regards to the estate, Jackson’s son Blanket had asked the judge to stop his grandmother (Katherine) from using the estate’s money to fund her efforts to block the Sony deal. Jackson’s children had notably opposed the sale initially, but have since accepted the judge’s decision allowing it to move forward.

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Copyright for syndicated content belongs to the linked Source : DigitalMusicNews – https://www.digitalmusicnews.com/2024/07/19/michael-jackson-catalog-sony-music-sale/

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