Micheal Jackson and Sony ATV Music Publishing had a 50-50 stake as part of a business partnership that began in 1995. Sony is now paying Micheal Jackon's estate the 50% stake it doesn't already own in the joint music venture in$750m (£526m) for the late pop star's share.
The deal which give the rights to MJ's master recordings, however gives the rights to about three million songs, including works by the Beatles, Bob Dylan and Taylor Swift.
The agreement will reportedly help reduce the Jackson estate's remaining $250m debt and give the late musician's three children more financial flexibility.
The purchase of Jackson's stake also strengthens Sony's US entertainment business, which includes a film studio and music recording company.
 


Rick Baker removing Michael Jackson's 'Thriller' makeup.