Sony Approves $600M Purchase of Michael Jackson’s Music

A Los Angeles appeals court has denied an effort by Michael Jackson’s mother to stop the singer’s estate from selling a portion of his songs to Sony Music Group for about $600 million.

The appeals court on Wednesday upheld a prior ruling by a probate court, stating that Katherine Jackson’s objections to the transaction do not hold merit.

The court concluded that Michael Jackson’s will grants the musician’s executors “broad powers to buy and sell estate assets in the estate’s best interests” while ensuring “all of the estate’s assets will be distributed to the trust” — of which the performer’s mother and children are beneficiaries.

Katherine Jackson had argued that these provisions were contradictory, but the appeals court disagreed.

Additionally, the court rejected Katherine Jackson’s challenge on the grounds that she “forfeited her contention that the proposed transaction violates the terms of Michael’s will because she did not make that contention” in a lower court.

According to court documents, Katherine Jackson had previously argued that selling assets from Michael Jackson’s catalog would go against her son’s wishes, though she acknowledged that executors had the power to do so. The court also noted that Katherine Jackson was the only family member and beneficiary of the trust to formally object to the sale.

An attorney for Katherine Jackson did not immediately respond Thursday to The Times’ request for comment.

“We conclude that the provisions are not inconsistent: Read together, they give the executors broad powers to manage estate property while the estate remains in probate, and they provide for the transfer of all estate property to the trust when the probate action is concluded,” Wednesday’s opinion reads.

“The proposed transaction is consistent with the terms of Michael’s will as so interpreted, and thus the probate court did not abuse its discretion by granting the executors’ petition.”

In February, Sony Music Group closed a deal to purchase half of Michael Jackson’s masters for at least $600 million, according to Billboard.

Source: The Times, Billboard