Sony acquires Michael Jackson's music catalog for $1.2 billion

Production company Sony has reached a catalog deal that includes Michael Jackson's hit songs. With this agreement, Sony has acquired 50 percent of Jackson's collection.

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Sony acquires Michael Jackson's music catalog for $1.2 billion

Half of the music catalog of world-renowned pop culture icon Michael Jackson has been sold for a record price. Production company Sony has purchased half of Jackson's music catalog for $1.2 billion or more.

As reported by Variety, this figure is the largest amount ever paid for a single artist's music collection.

ACQUIRED 50 PERCENT

Sony has made its largest catalog deal to date, acquiring 50 percent of the collection that includes Jackson's songs and songwriting catalogs.

Under the same agreement, the company also acquired songs written by Sly Stone, as well as songs by artists such as Ray Charles and Jerry Lee Lewis, in addition to Jackson's hit songs that went down in music history, such as "Beat It" and "Bad."

Jackson's recorded music catalog stands as one of the most lucrative in history.

In 1982, the Thriller album alone became one of the best-selling albums of all time and the first to be certified 30 times platinum.

News Source: 12punto