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Jackson's Beatles Songs -- Let it Be

9/14/2009 7:55 AM PDT BY TMZ STAFF

Jackson's Beatles Songs -- Let it BeMichael Jackson's publishing catalog will not be sold to pump up the assets in the estate, according to sources familiar with the probate.

We're told several family members are questioning why the estate appears, as one put it, "in the red." Sources knowledgeable with the estate acknowledge a "huge amount of debt" as creditors claims continue to come in.

But, we're told, in the end, if all the assets were sold the estate would definitely be flush with cash. HOWEVER, sources say the publishing catalog -- notably the Beatles' songs -- will not go on the auction block. Sources say it's an asset that is worth way more to Jackson's kids in the long run than the cash it would generate now.

The honchos in the estate, we're told, are confident it will be fueled by an influx of cash over the next year or two -- the amount of time it will take to wrap probate up.

Until probate ends, family members will have to make due with their allowances.

180 COMMENTS

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151.

BillieJeanJackson    

Susan,

You are wrong. You can't possibly know the amount of money in my daughter estate. It was millions, but I wasn't living off of her. Neither were any of her siblings. And I had to turn in an itemized accounting each year for 10 years. Because the courts have to account for every penny of the estate.

There were lawsuits involved, but my daughter didn't leave debts. All of the money that came into the estate just grew her trust. My Grandson has it invested for his children now.

Katherine had to show proof. Go into any court rooom in the USA and you will find that Judges work with fact.

Where do you get off calling people you don't know Liars?

Do you think every one on this board is dirt poor? Katherine had to submit FACTS, whether they were from the past support or present.

You said she didn't have to bring in every bill, I said she had to submit an accounting of expenses. AND, she better have proof for the expenses, or she can be held in contempt.

Just because she is dealing with a debt ridden estate doesn't mean she doesn't have to prove FACT. There is NO common sense in courts. They all deal only with FACTS.

1775 days ago
152.

susan    

After McCartney's advise to get into music publishing, MJ told Branca that he wanted to purchase catalogues. He bought a few and passed on others. He would only buy songs that he liked. Branca then found out that the ATV catalogue was up for sale. MJ didn't know what it was, but as soon as Branca told him that the 4000 song package contained the Northern Song catalogue which was the Beatles, he told him to do whatever he had to do to get it. He then sold 50% of it to Sony in 1995, and they formed the partnership of Sony/ATV. If MJ has lost 25% of it to Sony, nobody knows as it wasn't made public of what happened to that collateral he put up, when he defaulted on the loans that they guaranteed.

145. Was it MJ's idea to purchase the Sony Catalog, or Branca's sound business advice that advised MJ that it would be a good investment.

Posted at 10:42PM on Sep 14th 2009 by kayla



Read more: http://www.tmz.com/2009/09/14/michael-jackson-beatles-songs-estate-probate-kids-publishing-rights/10#comments#ixzz0R9AR4mK0

1775 days ago
153.

maria clara    

R.I.P MICHAEL JACKSON,I LOVE YOU

1775 days ago
154.

Look at all the WJ spermette cheerleaders on TMZ. WJ rahrahrah!    

It's great to see most of Jackson's fans have moved on with their lives, and that only ten or so people remain.

1775 days ago
155.

BillieJeanJackson    

This link explains how the sale came about and why.

http://www.snopes.com/music/artists/jackson.asp

1775 days ago
156.

LucyInTheSky    

...MJ fans have always been "moving on" with their lives.
they are lurking here now, watching and waiting.

If the LAPD, DEA, LAC Coroners Ofc, LA Mayors Ofc, & CA Attorney Generals Ofc can so conveniently wait, so can MJs fans.

There also appears to be a mandatory mass media waiting game.

If this is going to be a waiting game.
It will be a waiting game worth waiting for.

MJ fans are reserving their comments for newsworthy commentary.
And reserving their energy for reactionary action.

***DAMAGE CONTROL ALERT*** PUBLICITY RELATIONS ALERT ****

Joe Jackson seems to be the only one presently in the news.
In the past 2 days:
JJ has been interviewed & photographed at the VMAs.

Interviewed by FOX. Where JJ states that the LAPD has advised him to made no comments re the Michael Jackson MURDER investigation.

And a new? youtube JJ interview has surfaced wherein JJ so poignantly discusses MJs passing.


There is always a lull before a fantastic storm
Always a lull before a storm worth waiting for.

JUSTICE FOR MICHAEL JACKSON

1775 days ago
157.

LucyInTheSky    

***And there appears also to be a Michael Jackson Family Trust courtroom hearing waiting game.

No word from Judge Beckloff, John Branca, Londell McMillan, Margaret Lodise, or Ed Chernoff?

Which side of the fence will be the jumping off side?

1775 days ago
158.

reportingracism    

Did you people know that the jackson 5 sang some of the Beatles songs. Bridge over troubled waters is one I can remember as being a favorite of mine.
MJ was smart and listened to wisdom.
Just think maybe if Paul was able to buy the catalog it would now be in the hands of his ex-
instead it will be in the hands of MJ KIDS.
BEATLE MANIA IS BACK, have you guys seen best buy display and teeshirts of the beatles.
yes the Jacksons should get a legendary award. Stop hating you haters and get a real life.

loving me some MJ.

1774 days ago
159.

liz    

Wasn't "Bridge over troubled waters" a Simon and Garfunkel song?

1773 days ago
160.

liz    

Ginger, people like you that judge by skin color are the real idiots of the world. Pretty shallow thinking---or not thinking actually

1773 days ago
161.

GEO    

WHILE I FEEL BAD ABOUT MICHAEL JACKSON'S DEATH BECAUSE OF THE CHILDREN HE LEFT BEHIND, ALMOST ADRIFT SORT OF SPEAK BECAUSE IT SEEMS EVERYONE IS JUST WORRIED ABOUT THE ESTATE AND GETTING THEIR 15 MINUTES OF SPOTLIGHT, ONE THING THAT HAS BEEN BUGGING ME TO DEATH, WHAT WAS HAPPENING TO THE KIDS WHEN MICHAEL WAS ALIVE AND GETTING LOADED, IT SEEMS TO ME HE COULDN'T HAVE BEEN MUCH OF A PARENT IF HE WAS PASSED OUT 18 HRS A DAY?

1773 days ago
162.

nan    

that catalog meant alot more to mike than money,it was his way of telling the music businessman that he was also a good at business.bothered him that james brown and jackie wilson worked so hard and got screwed over by the suits.paul maccartney did not bid so he did.with the beatles music came the rights to little richard music of which he promptly returned to mr richard.mj thought people might try to i him over that catalog ,i am glad the kids have it ,he put the right people in charge of his will .he knew what he was doing.wish he was stil here

1772 days ago
163.

tris    

stop saying bad things bout mj. he is already gone.leave him n his family alone.i love you mj. rip.God bless your family.

1771 days ago
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