Sony Corporation of America has signed a binding “memorandum of understanding,“ with the Estate of deceased entertainer Michael Jackson, to acquire full ownership of Sony/ATV Music Publishing LLC - the other 50% interest in Sony/ATV("Beatles" catalog) held by the Estate - for total payments of $750 million dollars. The given transaction will not affect continuing and substantial interests, of the Jackson Estate, including these other music assets: Jackson master recordings, Mijac Music publishing company, and EMI Music Publishing ownership stake. John Branca and John McClain, Co-Executors of the Estate add,
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This transaction further allows us to continue our efforts of maximizing the value of Michael's Estate for the benefit of his children….It also further validates Michael's foresight and genius in investing in music publishing… as evidenced by the value of this transaction, is considered one of the smartest investments in music history."
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