In broadcast first, network will put full-length shows on video site for free -- in Britain.
Jackson's Finances: TheWrap Shows You the Money
“There is a real opportunity to restructure (his debt) so they can keep all those assets.”
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The company prefers not to do so at the moment.
He also owns the valuable MiJack catalogue of his own music, which includes artists rights and rights to his master recordings.
Jackson owns an unknown minority stake in Neverland with Colony Capital, whose chief Thomas Barrack stepped in last year to stave off foreclosure and auction by buying it for $22 million. (See: Five Big Questions Answered)
As for Neverland, the 260-acre ranch that Jackson very nearly lost last year. Now it stands as a tantalizing source of revenue, if it were to be turned into a West Coast version of Graceland. As TheWrap explained last week, there are numerous hurdles to doing so. But it would provide another permanent source of revenue to Jackson’s children, if it were to come to pass.
Close to $100 million in tickets were sold for the 02 concert series in London. A large number of fans have said they do not want a refund, they would rather keep the ticket. Jackson would keep the lion’s share of these profits.
Jackson would also get revenues from any DVD, CD or digital download of his last performances and preparation for his last concert tour.
What does Michael Jackson owe?
Jackson is believed to owe more than $500 million in loans. He had a $270 million loan from Bank of America secured against his publishing assets, which transferred to Fortress Investments. The Sony renegotiation gave him an additional $300 million loan to live from.
The Sony/ATV catalogue produces about $500 million in revenue per year. Half of that goes to the artists. The rest of the revenue was once shared between Jackson and Sony.
But when Sony stepped in to save Jackson from defaulting on a loan in 2007, they renegotiated terms. Now Sony has the right to buy Jackson’s portion of the catalogue. “Sony is in a very advantageous position right now,” said one knowledgeable music executive.
Comments
Chello Says
MJ, freak or not is not material at this point; MJ RIP.
This article, yet again, is filled with nothing substantive and aims at simply nothing more than limited media airtime.
The fact is clear, michael was a genious and in his death this will be even more evident.
The beatles had their chance to buy the company but didnt - tough luck.
MJ's children and his legacy will live beyond, but clearly some of you wont.
Refrence is also purposefully skewed towards the Beatles catalogue being equivallent to Sony Atv, which is not catagorically not representative of the current value and content of the sony atv; check out their website to get educated.
I want for the day when some of you and your children are hung to dry in the public eye on the the basis of allegations and see what your fate will be.
michael's blood is in your hands...
How to Jump Higher Says
7 million a year just from the royalties of the Beatles catalog *crazy*
I must agree with LB - screw a day of mourning, bring on the national day of education about child molestation instead.
His own sister was the only one who didn't want to sweep it under the table - but no one would listen...
Jackson was a creep.
Ben
CEO
http://idigibuzz.com
lb Says
To Marie...
In this country I believe we are blessed by the right to trial by jury. That guarantee is indeed special. But even the constitution cannot guarantee competent prosecution and reasonable conclusions reached by the jury. Read the transcripts of the trial, and read the depositions from the children. Not just the one involved in that trial, but the other children who never went to court because the parents were paid off. 11 yr. old children don't make that crap up...Do you have any children Marie? Oh, let me guess that you were pleased O.J. got off in the criminal trial. It's perfectly common for people to form opinions of the people who unjustifiably benefit from our system of justice. In some cases that is the only justice they will ever face.
As for the freak part....do a google image search and look at the pictures....that is a freak....
As for the drug abuse charge, it's not even a matter of debate..in a coupla weeks there will be a toxicology report, and how ya gonna spin that?
Oh wait...I know...."He was a victim...."
Marie Says
Hey "LB," the court could have used your under oath testimony. You knew he was a "freak, a drug abuser, and a child molester and you calmly sat by with all of your evidence and let this happen. For shame. You should have demanded that the prosecutor and judge look at all of your video, finger prints and hard core on the record evidence. The fact that you did not come forward under oath with all of this and stand up to examination and cross examination kind of makes you an accessory doesn't it? Or does it make your statements something else in deed. Especially from the anonymity of your computer and your home/office. Yeah...Even those who had the power of the state couldn't convict him. All they or you have is a small percentage of people who want to tar and feather him because of what's going on in your own mind. Talk with Rep. King of N.Y. Maybe you can get a job on his staff and accuser in chief or something...
lb Says
It all makes me want to puke....He was a freak, a drug abuser, and a child molester...and all these people who enabled him throughout his twisted life are crying now because their meal ticket unexpectedly evaporated...
Then we have these creeps like Al Sharpton, and Jesse the shakedown artist Jackson, who ultimately do harm to the image of Black people in America, calling for a "National Day of Mourning"...How about a national day of education about child molestation drug abuse instead?
dayo Says
it is dishearteningand @ same time we are sad.
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