In 1985, Michael Jackson acquired the ATV Music Publishing catalog, which makes up the majority of Beatles' songs, 10 years later, in exchange for half the amount of ATV catalog, Sony Music Publishing has a half price of $ 90 million We negotiated negotiations. Through this merger, Jackson has become the owner of Sony / ATV Music Publishing, the third largest music publishing company in the world.
Sony's president and CEO welcomed the merger and praised Mr. Jackson's approach to venture. But early on, Sony showed signs of wanting a full catalog, and it came to go to buy all the Jackson shares at a song publishing company. Jackson insisted on never selling the Beatles' catalog.
In 2002, his CD Invincible reached sales of $ 5 million from his earliest start of his album including a thriller. Just because that alone needed to earn 2 million dollars, the singer had another CD with a huge success. Sony began to explore the need for Jackson to sell the Beatles catalog and to deactivate support for the incincins and other various projects. What More Can I Give, a funding source for the family of 9-11 victims, Jackson's charitable organization, was not publicly advertised at all.
Also, Jackson was waiting to return his master 's license to him. This will promote his old material he liked and will prevent Sony from earning a reduction in profits. However, in the beginning of 2000, he learned that due to the various provisions of fine printing and contracts, the date that his license was returning to him turned out to be far apart.
The singer started the investigation and found out that his lawyer, John Branca, also represents Sony. Jackson further knew that Branca stole money from him and put it in an offshore account. In 2003, Michael Jackson appealed to cancel the contract with Blanca.
When Jackson later refinanced the debt with the Fortress investment group in 2007, Sony's company. It helped to smooth the transaction. Instead, Sony reserves the right to purchase half of Sony / ATV's Jackson's share at a pre-determined price, leaving only 25% of the company. Sony will also be a managing partner. Also, if Jackson's career and financial situation worsens further, Sony has the right to check future offers against the rest of the remaining 25% shares.
Sony also showed interest in MiJac, the owner of Jackson's old song, and won the right to purchase a singer's own catalog. Prior to Pop Star 's acquittal of the Beatles' catalog, he had purchased the rights of the previous song for the MiJac label, which was not part of Sony' s deal. Over the past thirty years, Jackson was collecting the materials he made with many chart topping artists he intended to use for future projects.
After his death, Catherine Jackson stated that the mother was legally authorized to manage the heritage because the mother died without a wife or adult child and submitted a court document to protect his son's legacy We appointed special administrators immediately and asked to supervise bank accounts and profitable companies managed by "unspecified third parties". The court 's document also pointed out that at least one person misdirectly claimed that he had the right to represent as Jackson' s agent (the lawyer will terminate at the time of death).
Later Blanca got a signature not to be Mr. Jackson in 2002 and conveniently produced a very suspicious will. His child's name was all wrong. I signed in Los Angeles on the day Jackson was in New York. Blanca insisted that he rehired him eight days before Michael Jackson died. However, when Jackson resigned from Blanca in 2003, he ordered the lawyer to return the original of all the documents to the new attorney, and to Blanca, he, his business, his family, or his personal I never demanded nothing to do with life.
Mr. Catherine found out of Michael's property, founded the Michael Jackson Family Trust, and made my (Jackson) real estate that named the Jackson real estate blanca enforcer "maximum power of power" Regardless of whether or not I am contracting, I will sell real estate, lease, mortgage, promise, exchanging, selling real estate under the conditions that my executive thinks is the best,
Jackson's parents raised a separate lawsuit to challenge the validity of the will. If she lost herself to the will, she was disappointed and I learned that Catherine Jackson withdrew her case. Shortly, the challenge to Joseph Jackson 's will was totally fired for the lack of standing. In the opinion of the court, the father could not refer to the validity of his / her son's intention.
The first transaction by Michael Jackson Family Trust was a contract with Sony Music Entertainment Inc. and agreed to a distribution contract including Megastar's unreleased project. His recordings, DVDs, video games, and theaters were said to be worth $ 250 million. His co-owner, Branca and John McCain, each earned $ 2.5 million in negotiations with Sony. Executive at Michael Jackson Family Trust said, "We and Sony feel Michael Jackson's future is infinite."
According to Billboard in nine months after Michael died, 30 million copies of his album were sold.
Branca says, "I think that recording always becomes an important part of real estate." "The new generation of children are discovering Michael, I think that many of the people who" saw it "have undeveloped markets that are growing for Michael's music who was a family member," It was.
"There are also audio rights for theaters, movies and computer games," Blanca announced to the media. "I do not know how the audio soundtrack will be used in 2017, but Michael Jackson can bet on a new platform.
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