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Michael Jackson and Sony: Who's Bad?
Sony has struck a deal with Michael Jackson's estate to purchase the 50% stake it does not own in Sony/ATV (a music publishing group) for $750m. It is in the news but there is not much talk of what Michael Jackson would have thought anout this deal
Back in 2000 when Michael Jackson was working on the album Invincible, he had a dispute with Sony Music Entertainment over the ownership of his album masters.
He discovered that his attorney was also representing Sony, which was a conflict of interest. Jackson was able to use these conflicts as leverage to exit his contract early and Sony was far from happy
Michael was obviosly an astute business man. His investment grew from 50 million to 750 million in a few years. When he purchased half of ATV Publishing. He owned the rights to millions of songs including works by Beyonce, Lady Gaga, Manic Street Preachers, Taylor Swift and some of the Beatles.
Michael discussing the investment
In July 2002, Jackson said then head of Sony, Tommy Mottola, was a "devil" and a "racist who exploited black talent" who did not support his African-American artists, using them merely for his own personal gain. He accused Mottola of calling his colleague Irv Gotti a "fat nigger". Unsurprisingly, relations never really got much better.
So I’m leaving Sony, a free agent,… owning half of Sony! I own half of Sony’s Publishing. I’m leaving them, and they’re very angry at me, because I just did good business, you know. So the way they get revenge is to try and destroy my album! But I’ve always said, you know, art — good art — never dies. …Thank you. And Tommy Mottola is a devil! - Michael Jackson
Jackson went on to say,
The story's always the same though. These guys work really hard at their craft but the story ends the same. They are normally broken, torn and usually just sad... The story is very sad in the end, because the companies take advantage of them. I geneerated several billions of dollars for Sony. They never thought that I would out-think them. - Michael Jackson
Michael discussing media maipulation
They say that Jackson's half will go towards paying off a $500m debt that he had during the time of his death and that after fees, expenses and taxes, the remaining amount will be put into a trust fund for Jackson's three children. Michael Jackson earned more than any entertainer dead or alive in the first five years after his untimely passing (Via Forbes) so the question remains, why did they need to sell?
The media is focusing on the massive cash payout that his 3 kids will receive when they are 30. The Guardian decided to focus on a movie from Spike Lee.
Someone somhewhere is sipping some champagne doing a moonwalk singing who's bad and it's not be Michael.
Judging by the Facebook comments (there were hundreds) below that were under the CNBC news piece, many America feel something is up.
Facebook reaction
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Lorna Case Sony was willing to kill MJ for his 51% stake in their company. Watch his speech on YouTube from London where he details owning half of Sony and that Tommy Motola is the devil. Marckel M Lubin These greed-driven vampires would do anything to get the entire stake for themsekves Nathan Yahushua Andebe Speak The Truth..If Michael Was Still Alive He Wouldn't Have Sold It.
Mimi Bradley I believe this statement Perry D Ingram So how much goes to his kids LaDell Sean Williams No one purchases something for 3/4 of a billion without it being worth at least 3X that in fact this would be bigger than Dr. Dre's deal ....
Marckel M Lubin These greed-driven vampires would do anything to get the entire stake for themsekves
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Cray Stencil Money talks
Samiri Williams They did kill him
Like · Reply · 1 · 19 hours ago
