In 1984, four thousand of the Beatles’ songs (owned by Associated Television Corporation at the time) were up for sale. Michael Jackson eventually outbid all other potential buyers, including Paul McCartney of the Beatles! Oddly enough, McCartney was the person who had originally introduced Jackson to the benefits of song ownership!
Thus, Michael Jackson received 50% of all royalties for those songs and the members of the Beatles received the other half. However, with Jackson’s untimely death in 2009 could McCartney eventually win the rights back!
Jackson reportedly said that he wanted the Beatles’ song rights to go back to McCartney when he was dying. However, Jackson also sold half of his shares to Sony/ATV in 2005, and posted the other half as collateral for a loan. Giving the rights to the Beatles' songs back to either McCartney or the Beatles is reportedly NOT in Jackson's will. According to Paul McCartney, this is not a surprise.
For more details on exactly how the royalties were split, check out the Snopes article about this subject. If you want to know more about the financial situation about the Jackson estate and speculation about the future of the rights to the Beatles' catalog, try this column from Wired.
Thus, Michael Jackson received 50% of all royalties for those songs and the members of the Beatles received the other half. However, with Jackson’s untimely death in 2009 could McCartney eventually win the rights back!
Jackson reportedly said that he wanted the Beatles’ song rights to go back to McCartney when he was dying. However, Jackson also sold half of his shares to Sony/ATV in 2005, and posted the other half as collateral for a loan. Giving the rights to the Beatles' songs back to either McCartney or the Beatles is reportedly NOT in Jackson's will. According to Paul McCartney, this is not a surprise.
For more details on exactly how the royalties were split, check out the Snopes article about this subject. If you want to know more about the financial situation about the Jackson estate and speculation about the future of the rights to the Beatles' catalog, try this column from Wired.
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