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Michael Jackson's estate executors want to breathe new life into an incredibly valuable asset -- the heavily-collateralized MIJAC Music Catalog.
The Catalog -- valued this year at around $100 million -- was used by Michael Jackson to secure at least two big loans.
According to legal docs obtained by TMZ, co-executors John Branca and John McClain have entered into negotiations with a bank to restructure the two loans with more favorable terms. The new terms could save the estate a fortune.
12/21/2009 1:30 PM PST BY TMZ STAFF
Michael Jackson's Music May Get Second Chance
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Reader Comments
(Page 1 of 4) | 1 | 2 | 3 | 4 | Most Recent | Next 15 Comments5.
Go Branca/McClain!!! Do yo' thang executors! Workin' for MJ! If these two pull this off, give them the 'extra' they're asking for. I've always(particularly in Branca's case) believed that these men were MJ's friends. I don't believe MJ was in some 'brain fog' when he brought Branca back in. As far as I know, Branca has demonstrated his ability as a hell of an attorney, an ethical man, & was, by all accounts, MJ's friend for MANY years & has only spoken well of him.
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6.
MIJAC publishing is is administered by Warner-Tamerlane, Sony ATV's competitor.
Michael Jackson's a SMART man to keep his personal songwriting catalog away from Sony.
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8.
WOW,if you look at a picture of him from back in day side by side with that pic that's up now, you would not believe it's the same person.
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9.
STOP MTV FROM TAKING THE KING OF POP TITLE FROM MICHAEL JACKSON!!!
please sign the petition:
http://www.thepetitionsite.com/1/mtv-should-be-stopped
MICHAEL JACKSON KING OF POP!!!
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10.
janala4--are you ready for christmas? i agree with you they are doing a hell of a job, and i think they have mjs best interest at heart. i really hope this all works out for his children and they have a peaceful life with his legacy in front of them. justice for michael!!!sue from tampa
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11.
These guys, particularly Branca, are the reasons Michael made as much money as he did. They were asking for extra pay from the estate the other day. They deserve that and then some. I know Branca cared about Michael's welfare and I think Michael eventually figured that out...just in time. I believe he'll do the right thing all the way. Michael's will is doing in death what he wasn't able to do while he lived (because of his naivete), which is to keep people from taking advantage and his family from living off him. Maybe now his estate can make some money, though I really wish Michael could have enjoyed it more than he did. Let's hope he enjoyed it more than I realize. I'd like that.
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12.
Then, once the terms of the loans are made, release
the music. It will pay for itself !!!
Example, "A Place With No Name", release it for starters, fellas !
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13.
#12 - Have you heard Cheater? Michael recorded it for the Bad album, and it was one of his favorites but it had to be cut. It's fabulous! If they release them, I'll buy them!!! Loved Michael Jackson!
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14.
As far as I know, Branca has demonstrated his ability as a hell of an attorney, an ethical man, & was, by all accounts, MJ's friend for MANY years & has only spoken well of him.
Posted at 2:16PM on Dec 21st 2009 by janalal4
So, does this mean the bank debts are still not paid off. I thought the record sales & the profit from TTI were more than enough to pay off the bank debts according to that article from the UK Express.
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15.
These two men are amazing. Their understanding of the business at hand is undeniable and vast. Their understanding of the man they're representing, Michael Jackson, is appreciated. Of course they're also thinking of their paycheque, who wouldn't? This entire estate is enormous and complicated and diverse. As I've stated previously, as long as Branca and McClain have Michael's best interests in mind, maintain his integrity and legacy, and keep his children in their hearts during their negotiations, thumbs up to them! R.I.P. Michael Jackson.
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