The catalog, which includes tracks from Jackson, the Beatles, Taylor Swift and many others, will help Sony to pad their streaming business revenue, which the company expects will jump to $5.2 billion by 2017.
Sony/ATV Music Publishing, as the joint venture is called, will pay a lump sum of $733 million to the Jackson estate, as well as a small portion of future distributions.
Jackson purchased the ATV catalog in 1985 for $41.5 million.
Source:
BBG
Written by: Andre Yoskowitz @ 15 Mar 2016 16:17
