Record-Breaking Music Copyright Sale Expected
Jackson Biopic Casts Nephew as Lead Actor
The contract to sell the copyrights of the priceless hit songs sung by the 'King of Pop' Michael Jackson for up to 1.1 trillion won is imminent.
On the 8th (local time), the American entertainment media Variety reported that 'Michael Jackson Estate,' the corporation managing his legacy after Jackson's death, is negotiating with Sony Group to sell half of the music copyright shares for up to 900 million dollars (1.13 trillion won).
Michael Jackson, a legend of American popular music, sold over 400 million records worldwide. He topped the Billboard singles chart with a total of 13 songs. [Photo by Asia Economy DB]
Sony Group, which oversees music, film, and TV content divisions, has partnered with financial institutions to negotiate securing the rights to Jackson's music and publications, which is also expected to include rights to Jackson's biographical film and musical.
Michael Jackson, a legend of American popular music, sold over 400 million records worldwide. He topped the Billboard singles chart 13 times in total.
If the deal between Jackson's side and Sony is finalized, it is expected to be recorded as the largest music copyright sale in history.
Previously, 'rock legend' Bruce Springsteen sold his song copyrights for 550 million dollars in 2021, and 'godfather of folk' Bob Dylan also sold his music copyrights for 300 to 400 million dollars. Justin Bieber recently sold his entire music copyrights to Hipgnosis Songs Capital for 200 million dollars (252.6 billion won).
Meanwhile, a biographical film about Michael Jackson is in production, directed by Antoine Fuqua, known for 'The Equalizer,' 'Southpaw,' and 'Breakthrough,' and produced by Graham King, who participated in 'Bohemian Rhapsody,' 'Tomb Raider,' and 'World War Z.'
Michael Jackson's biopic has attracted attention by casting his nephew, An Jafar Jackson, as the lead. Jafar Jackson is the son of Jermaine Jackson, Michael Jackson's older brother and fellow member of the group 'Jackson 5.'
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