Greedy azz family. Trading " forever " money for " now " money
Sony buys Michael Jackson's stake in music unit for $750 million
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Part of those loan deals included giving SONY an option to buy MJ's share.
http://www.rollingstone.com/music/n...alks-for-transfer-of-massive-catalog-20151009
Considering where he was financially the estate is much better off and can focus on managing MJs catalogue.
It wasn't simply an option to buy, it was an option that forced a buy out, for one party or the other.
It was a trap that I guess Mike might have had a plan for...
There were a few clauses Sony had attached to the loan when MJ borrowed the money - Sony used them all as traps -one clause was that the Invincible album had to sell minimum 7x platinum, it was the only MJ album Sony refused to market, if y'all remember it was the time Mike was calling Tommy Mottola out as the devil during every interview, was self promoting on Fox, exclusive interviews, etc... he made his sales numbers despite Sony's sabotage.
He defeated almost every trap Sony had laid out for him before he was killed... his estate satisfied the loan within 4 years of his death but in the 6th year after his death Sony executes a buy out clause and gets to consolidate ownership of its publishing company at OddLot prices
and stop encouraging that bullshit lie "considering where he was financially"... these fucking cacs keep pushing the myth that MJ died broke, a spendthrift eccentric that was lucky with one publishing catalog purchase. fuuuck that.
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I never said Michael Jackson was broke and most responsible media never said it either but it was no secret he was not earning the way he was in was in 80s and 90s. The music industry changed in the 2000's and revenue from traditional record sales dropped and many artist began to hit the road. Touring is where the money is Now for most Artist. Michael had not had a major tour since 2001/2002 . I believe the main reason he was going on tour was to improve his finances. If Michael was not having some type of difficulty why take a loan out against his single most valuable asset? Also why embark on a world tour that you're physically not up for?
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In this post I'm only going to address Sony's "loans"
What everyone refers to as a loan was really Sony's advances on MJ's recording contracts from back in 1991 and again in 2010
http://www.latimes.com/la-me-jacksontimeline-sony-story.html
Jackson, 32, reportedly could receive more than $120 million per album if sales match the 40-million-plus level of his smash mid-'80s album "Thriller." Two sources close to the talks said the reclusive singer is guaranteed an advance payment of $5 million per record plus a 25% royalty from each album based on retail sales...
...Jackson's next record, for which he reportedly received an $18-million advance, is due this summer. In addition, Jackson will be paid a onetime $4-million fee, informed sources said, plus $1 million a year to run Nation Records, the record label created under the deal. Sources said Sony also agreed to put up $2.2 million a year in administration costs...
All of the numbers in bold in the article are really advances against any future profits after RECUPERABLE EXPENSES (recording, marketing, production, etc.. )
In 93 MJ started having legal troubles and expenses because of pedophile accusations. At the same time record labels and publishers started raking in truck-boat loads of free money on publishing because of mass public wanting to own their favorite songs from 40s - 80s on CD and they started putting out remastered albums, greatest hits, best of's etc...
MJ was sole owner of ATV Publishing, a large catalog of best sellers from the Beatles, Elvis, and a bunch of other hit makers, so in need of money, in 1995 MJ made a deal with Sony to merge ATV with Sony's publishing catalog. Under this deal Sony paid him $95 million for half ownership but modified his recording contract, including clauses (that we know of)
1. financially guaranteed his recording contract's threshold goals vs his ownership stake of ATV
2. a the forced 2 party buyout option on 20th anniversary of the agreement...
Then in 2001, he used his half of ATV as collateral to secure $200 million in loans from Bank of America.
Thats all...
B of A's loans were satisfied in 2012
Sony's 1991 contract sales thresholds were all met and exceeded before 2014.... except for one thing....
Sony got MJ's estate to sign a new recording contract in 2010
http://www.rollingstone.com/music/news/michael-jackson-estate-sony-strike-massive-250-million-deal-to-release-king-of-pops-music-20100316
-for $250 million, $200 million guaranteed and extending distribution to 2017 -
Because of how labels structure recording contracts- any advances given to the estate at the beginning of this contract, plus the initial ones in the 1991 deal are now being called loans.
dude- you don't know what you are talking about, you have incomplete and inaccurate information...
In this post I'm only going to address Sony's "loans"
What everyone refers to as a loan was really Sony's advances on MJ's recording contracts from back in 1991 and again in 2010
http://www.latimes.com/la-me-jacksontimeline-sony-story.html
Jackson, 32, reportedly could receive more than $120 million per album if sales match the 40-million-plus level of his smash mid-'80s album "Thriller." Two sources close to the talks said the reclusive singer is guaranteed an advance payment of $5 million per record plus a 25% royalty from each album based on retail sales...
...Jackson's next record, for which he reportedly received an $18-million advance, is due this summer. In addition, Jackson will be paid a onetime $4-million fee, informed sources said, plus $1 million a year to run Nation Records, the record label created under the deal. Sources said Sony also agreed to put up $2.2 million a year in administration costs...
All of the numbers in bold in the article are really advances against any future profits after RECUPERABLE EXPENSES (recording, marketing, production, etc.. )
In 93 MJ started having legal troubles and expenses because of pedophile accusations. At the same time record labels and publishers started raking in truck-boat loads of free money on publishing because of mass public wanting to own their favorite songs from 40s - 80s on CD and they started putting out remastered albums, greatest hits, best of's etc...
MJ was sole owner of ATV Publishing, a large catalog of best sellers from the Beatles, Elvis, and a bunch of other hit makers, so in need of money, in 1995 MJ made a deal with Sony to merge ATV with Sony's publishing catalog. Under this deal Sony paid him $95 million for half ownership but modified his recording contract, including clauses (that we know of)
1. financially guaranteed his recording contract's threshold goals vs his ownership stake of ATV
2. a the forced 2 party buyout option on 20th anniversary of the agreement...
Then in 2001, he used his half of ATV as collateral to secure $200 million in loans from Bank of America.
Thats all...
B of A's loans were satisfied in 2012
Sony's 1991 contract sales thresholds were all met and exceeded before 2014.... except for one thing....
Sony got MJ's estate to sign a new recording contract in 2010
http://www.rollingstone.com/music/news/michael-jackson-estate-sony-strike-massive-250-million-deal-to-release-king-of-pops-music-20100316
-for $250 million, $200 million guaranteed and extending distribution to 2017 -
Because of how labels structure recording contracts- any advances given to the estate at the beginning of this contract, plus the initial ones in the 1991 deal are now being called loans.
i think this is where the money lies.
Dude - All that info and you keep missing the Billion Dollar Gorilla in the Room.
Call them Loans ,Deals, advances or whatever the bottom line is MJ needed additional funds and took our a loan with Bank of America using his portion of the Sony/ATV as collateral. Then BoA sold those Loans to Fortress Investment group. In 2006 MJ restructured his finances with assistance from Sony and Fortress. That's when Sony introduced the Buy Out clause into their Arrangement. Given the amount of money MJ should have been making from his record deals and business arrangements with Sony in the 90's it's astonishing to most folks that he would need to take out a loan from BoA. Had he not had some kind of financial difficulties Sony would not have had leverage to introduce such a clause and we wouldn't be having this conversation. Another point here is that MJs estate also had the option to buy Sony's portion but didn't. So I stick with my original assertion that given all that has Transpired over the last 15 years the MJ estate still gtot a pretty good deal.
http://usatoday30.usatoday.com/money/media/2006-04-14-jackson-sony-beatles_x.htm
http://www.legendarymichaeljackson....lause-that-allows-one-party-to-buy-the-other/
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Stupid, having those rights would have let the Jackson family eat for generations. They would literally never go broke unless they were trying.
Mike was a fucking clown.
Cac Lawyers control MJ's Estate.
ALL Cacs work with each other. NO WAY do I sell his 50% ownership in Sony's Catalog Collection. It's an investment that NEVER ends. FUCK THESE CAVE DEMONS
ALL Cacs work with each other. NO WAY do I sell his 50% ownership in Sony's Catalog Collection. It's an investment that NEVER ends. FUCK THESE CAVE DEMONS
Sony knew what they were doing. This is a power move by them. I think they see the future.
I'm real sure that music streaming is about to get real, real big. That is where a huge percentage of the money in the music industry is coming from and it's still growing. I just read that the music industry is experiencing growth again due to streaming. I think I just read that most revenue in the music industry now comes from music streaming and that subscription to music streaming services is experiencing very good growth.
I recently bought a subscription to a music streaming service. It's the first time I paid any money for any music for myself since I bought Ryan Leslie CD in 2009.
Old songs and new songs get money from streaming services when they are streamed so the argument that residual income for old songs has been bootlegged out of the music industry is not so true anymore and is becoming less and less true by the day. I listen to old songs (and new songs) that I would never ever even think of actually paying for and the owners of the rights to the songs get money for me listening to it each and every time I listen to the song. Multiply that by the current about 100 million paid subscribers and potential billions of paid subscribers and that is shit load of indefinitely recurring money for the owners to the rights of those songs.
MJ's estate fucked up big time.
Sony saw the future and made out like a bandit.
DEVIL CAC's win again 
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mike didn't do it
They finally got what they killed him for.
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