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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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46.

Lorrie    

Well, a big "Duh!" to you, Team Harvey. That Michael's Beatles catalog won't be sold is only common sense and as expected.

Next time, ask your "sources" to give you some REAL news, such as who's getting arrested with regards to June 25, when, and on what criminal charges. Inquiring minds are waiting for THAT information with bated breath.

1863 days ago
47.

janalal4    

"until probate ends, the family will have to make due with their allowances.".... Thank God!! BOO F'KN HOOfor "the family"!! Protect those kids assets. No "seat at the executor table" for Katherine!

1863 days ago
48.

Nicole    

Please sign the petition for Michael Jackson Nobel peace Prize 2010. Google it.

1863 days ago
49.

for; while my guitar gently weeps    

43. People should educate themselves on subjects that they are talking about. When MJ bought the ATV catalog, it was a catalog of over 4000 songs. The Beatles were 250 of them. The Sony/ATV catalog is now over 500,000 songs. Again, the Beatles are 250 of them. The Beatles songs to this day, generate between $30-45 million per year on their own. During the 90's, the Beatles catalog actually brought in less money for Sony/MJ as 50% of the Lennon portion reverted back to Lennon's estate, under the death law clause.

McCartney did NOT have the money to go it alone. Anyone that knows anything about the Beatles and their finances knows this. Paul's fortune did not come into itself until the late 80's going into the 90's. He would have been in hock up to his ears to do it alone. Yoko was smart to not lay out millions of dollars for rights that were going to revert back to her for free a decade later. MJ was cash rich after Thriller. Lennon and McCartney still received and receive songwriter royalties, and royalties on the original recordings. Sony/ATV has no part in that. The Lennon estate now gets their portion of the publishing rights too, and that's the only thing that McCartney does not get. There also is a 56 year clause in the law. It seems Paul is going to automatically start regaining his portion from 2018 thru 2026. So the forward value to Sony/ATV is going to decrease more starting in the next 9 years. And, any George Harrison written songs they have,(George did not renew his Northern Songs contract in 1968 and started his own publishing company, Harrisongs, so they don't own any songs he wrote from '68 onward) are also going to start reverting back to his estate under the death law. The forward value of the Beatles catalog is not going to grow in the future for Sony/MJ estate. It's going to decrease, not because of it's value. It's value has continued to grow over 46 years. It will decrease enormously because of the rights reverting back to the songwriters and/or their estates.

Posted at 9:56AM on Sep 14th 2009 by Susan

Read more: http://www.tmz.com/2009/09/14/michael-jackson-beatles-songs-estate-probate-kids-publishing-rights/3#comments#ixzz0R5j7aZOy

Well put Susan' I Thank you, let me add' Rock-band the Beatles due for release in 2009, will sell to the younger crowd, Beatles music is easier to Rock-band with for preteens, newer faster rifts are more-so teenager + age-group! Beatlemania rebirth.

1863 days ago
50.

B.    

From Bottom-Turn

1863 days ago
51.

bye mj    

getting their hands on the beatles catalogue is the real reason the Jacksons want a so called "seat at the table"; of course, that should be preserved for the kids

1863 days ago
52.

oh well is full of poo!!!    

Come on TMZ gives s some news we really want to hear!!!When is DR.DOOM that IMBECILE going to be thrown in jail?????The media never left Michael alone a man who cared about human life so don't leave that JERK alone!!!!DR.STUPID is just SCANLESS AND TRIFLIN go follow that fool everywhere!!!!DON'T LET IT BE!!!!!!!

1863 days ago
53.

susan    

The remastered catalog and Rock Band were released on 9-9-9. The stereo and mono boxed sets are rated #1 in sales amazon sales rank. They are sold out everywhere, and the next delivery won't be for 3-6 wks. The individual remaster cd's are all in the top selling sales ranks. And, just wait until they finally get on to iTunes. The Beatles are not going away. They keep getting stronger as time marches on.


Well put Susan' I Thank you, let me add' Rock-band the Beatles due for release in 2009, will sell to the younger crowd, Beatles music is easier to Rock-band with for preteens, newer faster rifts are more-so teenager + age-group! Beatlemania rebirth.

Posted at 10:35AM on Sep 14th 2009 by for; while my guitar gently weeps



Read more: http://www.tmz.com/2009/09/14/michael-jackson-beatles-songs-estate-probate-kids-publishing-rights/4#comments#ixzz0R5qlneGI

1863 days ago
54.

janalal4    

Well put Susan' I Thank you, let me add' Rock-band the Beatles due for release in 2009, will sell to the younger crowd, Beatles music is easier to Rock-band with for preteens, newer faster rifts are more-so teenager + age-group! Beatlemania rebirth.

Posted at 10:35AM on Sep 14th 2009 by for; while my guitar gently weeps



Read more: http://www.tmz.com/2009/09/14/michael-jackson-beatles-songs-estate-probate-kids-publishing-rights/4#c21597557#ixzz0R5xAXIGI

Funny you mention that!! My 15 yr old daughter said the same thing last night when she saw that commercial during the VMA's. She said she has trouble playing the other stuff as well. Hmmm...sounds like your onto something here!

1863 days ago
55.

me    

it is also very true that Paul owns alot of other artists catalogs and music. he was just out bid simple as that. Why is okay when white men own everything...Chuck Berry, james Brown, Otis Redding, and the list goes on and on and on. No one cared or said crap. But as soon as Michael bought the white man's music , he is labeled the anti-christ? Get over it. it has been a part of the record industry since the beginning of time. It was Paul who told Mike to buy music, so he did? was he supposed to buy garbage? No! He bought the best of the best. And while folks like Sammy davis died broke ( MJ paid for his funeral btw) along with many other great black artist who watched Elvis sing their songs and become rich and famous, Mike didn't go out that way. He may not have had alot of cash, but $1.4 BILLION IN ASSETS ain't nothing to turn one's nose up at.
This is my opinion, when the white man goes back and gives the families of the black artist's the money and the rights, then MJ estate can consider giving the Beatle's back. But we all know that will never happen. Just remember what goes around comes around. MJ is teaching so many lessons if folk care to open their eyes and see. And i made it a black and white thing to drive my point, but in reality it's BUSINESS. Prince walked around with a symbol for a name and slave written across his face for years. George Michael had issues with Sony, so this is an ongoing problem. But don't put it all on MJ. He joined the big boys club and played hard. He struck a major deal, but he didn't invent the wheel folks

1863 days ago
56.

g girl    

SO THE BEATLES ARE THE KING OF POP?

1863 days ago
57.

Time Space    

#61

Speak the truth! MJ was a very shrewd business man. People got the wrong idea thinking he was this "child like" persona. "Child like" does not mean "Childish" Everyone know assets are more important and tangible than "cash".

If his financial advisors (true advisors - not these people who don't pay a mortgage or accountants that let stupid bills slip through fingers) continue to cultivate these smart deals, his kids will NEVER have to worry about money ever...and MJ knew this.

People tripping because he was buying art. ART which specific pieces appreciate in value. MJ was not dumb and this belief that he was led by the nose is weak.


1863 days ago
58.

Maria    

PLEASEI have had enough of all the Jackson`s. He was a drugy they are after making money off his name they are all sick. I just worry about the kids what life will they have? will they grow up to be sick just like them?????

1863 days ago
59.

Sunny    

Michael Jackson's estate will soon be earning gazillions now that Michael is not spending money like there is no tomorrow. That music catalog is a gold mine of songs, only part of which are Beatles songs. His children, their children, and their children's children will be living in grand style. May they inherit their father's generosity and not his vices.

1863 days ago
60.

Della    

Doesn't the Michael Jackson Trust own his stake in the ATV/Sony Catalog that also includes the rights to some country music and other artist. This catalog didn't just include the Beatles, it also included a number of newer artist, and also MJ's own music catalog.
Sony/ATV bought the Lieber Stoller in 2007.
Michael formed the trust at some point along the way. Isn't the trust managed by the estate or is it the other way around? I don't know.

1863 days ago
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