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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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76.

for; while my guitar gently weeps    

68. People make a big deal out of this Beatles Catalog, which it is. I am shocked to find out now that Michael also owns, among other music catalogs, the entire Acuff/Rose Catalog. May not mean much to a lot of people, but this is like the Nashville Song bible. Holy Sh*t! The more I read, the more inclined I am to believe Michael did not personally buy these things, it's the investors ie: AEG, Sony, Colony, Tohme, Dileo. Dileo was right in the thick of it in Nashville with his own 2 bit music company, was gonna retire, do the Oliver Douglas thing, now look at him, sitting in the prime chair of MJJ when Tohme got fired and they were just out to lunch the day Michael died. Let's see those videos from the Beverly Wilshire Hotel, shall we?



Posted at 12:04PM on Sep 14th 2009 by KnowsIt


Knowsit; When Michael got that Catalog' he said the Motown Catalog was his next goal, Michael wanted Artist to reap better reward than their music' than their Management' got, he was to reform all Artist retirement's.
People argue with me, Gordy' would not sell Motown' but Michael wanted to reform royalties, especially due to the history of black artist being robbed by management.
Gordy the jerk' {Think he closet hated Jackson's} was Michael's close life-long friend, be it' he was a friend that used LoToya to hate Michael, I think MoTown would have been Michael's after 02, but 02 was more than Michaels body could handle.

1762 days ago
77.

Della    

While my Guitar...

Michael's music was controlled and managed separately by Warner Chappell or Warner Tamerlane.
Unless this has changed...I was wrong on this point...
Michael Jackson, ATV and the Beatles

by Gary L. Wolfstone


Long before his current controversy, Michael Jackson bought the ATV catalog of publishing rights, which includes 250 Beatles songs, on September 6, 1985, for a reported $47 million.

Subsequently, Jackson increased its worth by acquiring the publishing rights to many more songs. ATV Music Publishing, owner of over 4,000 songs, was said to have had 1993 revenues of $30 million, yielding a fair market value of more than $300 million in the early 1990's. ATV owns the copyrights to songs by the Beatles, Elvis Presley, Little Richard, Lloyd Price, and the Pointer Sisters, among others. A song earns money for its composer and copyright owner each time it sells on a recorded format, is played on the radio or covered by another artist. The copyright owner can license the songs to movie studios and advertisers for considerable money.

Michael Jackson merged ATV Music Publishing Company with Sony Music Publishing in 1995. This yielded the hugely successful company now called Sony/ATV Music Publishing which is the third-largest music publishing company in the world. Michael retains 50% ownership of the new company and received nearly $110 million dollars from Sony for the merger. It remains true that ATV owns 100% of the rights to most of its songs (including the Beatles songs), whereas Sony's income arises from co-publishing or administration.

Sony/ATV is worth an estimated $1 billion, having, in addition to the ATV catalog, publishing relationships with such artists as Bob Dylan, Nile Rogers, Mariah Carey, Neil Diamond, and Conway Twitty. Sony/ATV is directed by Sony and a board of directors drawn equally from Sony and Michael Jackson representatives.

The ATV songs were managed by EMI Music Publishing until 1998 and thereafter managed by Sony/ATV. Meanwhile, Michael Jackson's own songs, which belong to his Mijac Music Publishing, are controlled separately and are still managed by by Warner Chappell or Warner Tamerlane.

Michael Jackson's fortune is, therefore, secure and thriving. The unanswered question is whether Michael Jackson is turning over his financial empire to an extremist cult which has precious little business experience and no proven track record in finance. It is well within the range of possibilities that the hacks within the extremist cult could dissipate Michael Jackson's money in a matter of months. Time will tell.



1762 days ago
78.

gs    

I am so tired of all this fighting on here I think I am going to starting filing these fights away in the unproductive file. Especially when its about insulting people. Why are we doing that? Michael Jackson has been murdered and that is the real tragedy here.

1762 days ago
79.

gs    

78. We have something to tell you!
messagetomichaeljackson.org
Posted at 12:59PM on Sep 14th 2009 by Ann

Read more: http://www.tmz.com/2009/09/14/michael-jackson-beatles-songs-estate-probate-kids-publishing-rights/6#comments#ixzz0R6VubEE4

Thank yo so much for this Ann I need this right now it is wonderful thanks again.

1762 days ago
80.

WHITEY    

balls

1762 days ago
81.

Della    

Anne-

What would I do without you?

1762 days ago
82.

Della    

Sorry Ann I spelled your name wrong.

Ann.. thank you once again.

1762 days ago
83.

BillieJeanJackson    

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

This is what I was questioning in previous post. MJ allowed Havenhurst and Katherine $138,000. a month for living allowance.

As far as I can tell, she is the only member he supported. But many family members lived with her and ended up being supported by him.

This should change, because his estated owns havenhurst, and it isn't fair if the hanger-owns still live off the kids.

1762 days ago
84.

Justice for all    

What about the "Ongoing Investigation".... Everyone's focus now is on the This is It Movie, and the Tributes and Janet's performance. When do we get back to finding "Justice for Michael?" JMO

1762 days ago
85.

susan    

They based their allowance on what was done in the past and now taking on the expenses of raising the children. The estate can't tell Katherine what to do with that allowance.


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

This is what I was questioning in previous post. MJ allowed Havenhurst and Katherine $138,000. a month for living allowance.

As far as I can tell, she is the only member he supported. But many family members lived with her and ended up being supported by him.

This should change, because his estated owns havenhurst, and it isn't fair if the hanger-owns still live off the kids.


Posted at 2:39PM on Sep 14th 2009 by mamagoo



Read more: http://www.tmz.com/2009/09/14/michael-jackson-beatles-songs-estate-probate-kids-publishing-rights/6#comments#ixzz0R6tVZtIG

1762 days ago
86.

WHITEY    



BACK IN THE K.O.O.K.Y.

1762 days ago
87.

Michelle    

That is the smart thing to do. That is wonderful for Michael's children.
I love and miss you Michael!

1762 days ago
88.

Zacky    

You hypocrits are just angry that he got the beatles catalogue,

His a genious and play it well.

His sales are higher then ever,

and with the movie, and merchandise, it will be enough to get the creditors happy,


no way he should sell them

1762 days ago
89.

Raejean    

They need to sell it back to Paul McCartney and Yoko Ono for whatever multi-millions they can agree on; they were dealt out of ownership of the Lennon-McCartney songbook by incompetent management in the first place, and then when it finally comes up for sale, MJ snatched it away despite Paul being a "friend." It would be the right thing to do rather than the greed thing, and of course, the family probably won't do that.

1762 days ago
90.

susan    

The catalogue has never been valued at anywhere near 4 to 5 billion dollars. Even today, it has an estimated value of $1 - 1.5 billion.

http://money.cnn.com/2005/06/13/news/newsmakers/jackson_finances/index.htm

And no one know what happened with the 25% that MJ put up as collateral for loans. When Sony jumped in and bailed him out when he defaulted on the loan, and they refinanced a lower interest rate loan for him, he defaulted on that two. It's never been made public if they grabbed that 25% from him or any portion of it from the default. That's always been a wild card.

Sony has first right of refusal on any sale of his portion of the catalogue. It could never be sold on the open market, without them passing on buying it first.

MJ also put up Mijac up for collateral when he was getting all these massive loans.



Della; and Susan correct me if I am wrong!

At Michael's Santa Barbara Trial Michael's Attorney valued Sony Catalog at 4 or 5 Billion dollars, Assumed an overestimate.
Sony valued the Catalog a few years ago at over 2 Billion 1 Million Dollars, assumed an underestimation.
Michael owns 1/2 of Sony Catalog, plus Sony manages Michael's music without ownership.
Relating Sony owns 1 Billion dollar value, Michael owns 1 Billion dollar value, plus' 1 Million dollars value' for his own music, and all this was before 2008 or 2009 so value has increased.



Read more: http://www.tmz.com/2009/09/14/michael-jackson-beatles-songs-estate-probate-kids-publishing-rights/6#ixzz0R6uTxUGE

1762 days ago
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