Sony’s agreement with Michael Jackson’s estate will remain intact despite pushback.
As AFROTECH™ previously mentioned, Sony Music Group reportedly closed a sale related to the late “Rock With You” singer’s legendary catalog, which encompassed half of his publishing and recorded masters catalog. In total, the assets were worth between $1.2 billion and $1.5 billion.
Sony Music Group reportedly paid at least $600 million in the deal to claim its portion of the stake in Michael’s assets.
However, there was allegedly some pushback surrounding the deal from his mother, Katherine Jackson. Billboard reports that she attempted to stop the deal. This was because his executors, John Branca and John McClain, had appeared to privately go to Judge Mitchell Beckloff to get the green light for the deal. Katherine argued that it would “violate Michael’s wishes” and that the catalog’s valuation would still rise if the estate maintained its ownership.
Beckloff turned down the notion in April 2023 and permitted the deal to proceed. Katherine moved forward with an appeal, and on Wednesday, Aug. 21, 2024, a court ruling stated that Branca and McClain were not in the wrong for selling a portion of Michael’s assets to Sony Music Group.
“The will gave the executors broad powers of sale, with no exception for the specific assets at issue in this case,” the court wrote, per Billboard. “As such, [a lower judge] did not err in concluding that it was Michael’s intent to allow the executors to sell any estate assets, including those at issue in the proposed transaction.”
The Root also notes the court rejected Katherine’s appeal because she “forfeited her contention that the proposed transaction violates the terms of Michael’s will because she did not make that contention” in a lower probate court.
Katherine could still appeal the ruling in a California Supreme Court, according to Billboard.
