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Michael Jackson's Music May Get Second Chance

12/21/2009 1:30 PM PST BY TMZ STAFF

Michael Jackson's Music May Get Second ChanceMichael 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.

50 COMMENTS

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16.

A.B.    

Good!

Then collect all the rights and put together a 3 hour movie with the best from Michael's entire career. We had This is It, now we want all the great, great videos and short films. I'd watch it several times.

Also, a DVD box with EVERYTHING musical that was ever recorded. Plus home movies and interviews. This was his legacy and he wanted us to have it.

1582 days ago
17.

Nashville Rocks    

All music should get a second chance.

Check out this tribute to music and memories of 2009 set to the tone of a Christmas classic.

http://www.mynewsletterbuilder.com/email/newsletter/1410132325

1582 days ago
18.

Butterfly    

1581 days ago
19.

A fan    


Thanks for the heads-up # 13.
Haven't listened to the BAD album in totality
in a few years! I'll check it out again.

I want new MJ music, he left it, he would
want his fans to have it.

JUSTICE FOR MICHAEL JACKSON

1581 days ago
20.

brandonsk    

Hey guys from TMZ. You should check the facts first before posting just a part of the "legal" docs pointing out something irrelevant, evidently you have no idea about the loans and MiJac Music Catalog, and Michaels investments and his financial possibilities..., there are so much information about the basic facts of MiJac and Sony/ATV and so-called debts...., gee, how long it will take you...?

1581 days ago
21.

MJalive    

where are the FBI files???

Tom SNOWddon! XD

1581 days ago
22.

janalal4    

12. #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!

Posted at 3:09PM on Dec 21st 2009 by hoocheekoo



Read more: http://www.tmz.com/2009/12/21/michael-jacksons-executors-mijac-music-catalog-john-branca-john-mcclain-legal-docs/#comments#ixzz0aMOFzyEi

Could have been Tiger Woods anthem. hehe.

Hey sue, I'm over on the other article chatting. I'm losing my MIND at home. Nobody wants to do ANYTHING AT HOME BUT ME. Everyone wants to enjoy a Christmas that Mom puts together. I've been decorating, shopping, & killing myself for some extra money(mainly cause I've slacked all year & not saved any). This is the first day in forever I've had time to get on here. And no.... I'm STILL not ready for Christmas. Still more shopping to do. How bout YOU??

1581 days ago
23.

Mel    

MJ was a hell of a businessman. He wasn't that naive, folks! MiJac Music Publishing earned him millions each year. According to BMI, the organization that collects Jackson’s license fees, Jackson was a TOP EARNER internationally in the last few years. MJ did good business. Period.
TMZ, what about that??

http://www.forbes.com/2009/10/27/michael-jackson-earnings-since-death-dead-celebs-09-business-entertainment-jackson_slide_7.html

1581 days ago
24.

iFart    

This is great news...can't wait!!

1581 days ago
25.

Daphne Lorincz    

there are so much information about the basic facts of MiJac and Sony/ATV and so-called debts...., gee, how long it will take you...?
Posted at 4:07PM on Dec 21st 2009 by Brandon

Brandon, I read an article from the UK Express saying that the profit from This Is It, the film, plus the record sales had paid off MJ's debts, but if the executors had to restructure the loans, does this mean his bank debts are still not paid off. Did u hear about this article from the UK Express, it was last month that I read about it.

1581 days ago
26.

bunny    

Butterfly: just want to thank you for all the links you keep sharing with us and to let you know how much I enjoy them. Thanks!

1581 days ago
27.

justice is mine says the lord    

TMZ AFTER ALL THE PUBLICITY YOU HAVE GAINED FROM THE STORIES BEFORE, DURING (you announced he had died, before the time of day that the doctors had actually PRONOUNCED him DEAD) and AFTER his death....how can you REMOVE HIS NAME FROM THE MASTHEAD of your WEBSITE...I personally am STILL not ready to not see his name at the top of your page. I am not ready to go a day or even half a day without hearing or finding a story about Michael. I only watch the brothers TV show and TIVO/SAVE it simply because they might mention him during the show. I know I have it bad over this fellow, but he is now and will continue to always be the greatest entertainer, dancer, songwriter, of this or any other generation. His very own song describes him perfectly...GONE (WAY) TOO SOON.
PLEASE, PLEASE, OH PLEASE TMZ RETRUN HIS NAME TO YOUR MAST HEAD. WHO CARES ABOUT TIGER WOOD'S WIFE, CERTAINLY NOT TIGER OM ME FOR THAT MATTER NO ONE CARES ABOUT THOSE PEOPLE. PUT MJ BACK UP THERE AND ALL WILL BE FINE WITH TMZ.

BY THE WAY....How DID you know that MJ had died??? Were you in on the HOAX????and you got a little ahead of schedule???there are those of us out here who know the REAL story....Not that we are sharing it with any one that doestn have the right level of security clearance...but there are those who know.....

1581 days ago
28.

evil kitty    

Please...if this guy was a TOP EARNER the last few years, he wouldn't have ended up a broke ass bitch. He couldn't even afford the place in Vegas he was living in. And he couldn't write a song to save his life. Everything was written for him. You saw how he cranked out that song for the victims of Hurricane Katrina. Still waiting for that one from this so-called great songwriter. The only thing this bitch could do was twirl on his toes, tip his hat, grab his crotch, and squeal "woo hoo"!! Big F**cking Deal!!

1581 days ago
29.

Krys    

Ok I am confused but does this mean they are trying to sell is catalog or create a cd or something to help pay off debts?

1581 days ago
30.

A.B.    

jrys -

it seems so far it only means they are trying to negotiate already existing loans that MJ had with better terms. For instance, if they have a loan with the catalog as security and have to pay 10% interest (I am making this up, just as an example), maybe they can renegotiate and only pay 8% interest. Much more complicated in reality, but I guess that's it.

1581 days ago
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