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Sony acquire Michael Jackson’s Stake in Music Catalog for $750M

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Michael Jackson’s estate has agreed to sell its remaining stake in a lucrative music catalog to Sony Corp. for $750 million, the entities announced Monday. This seem like a good business.
via USA Today:

The agreement for Jackson’s half-share of the Sony/ATV Music Publishing catalog will give the company sole ownership of works by The Beatles, Bob Dylan and other hit making musicians, including Eminem and Taylor Swift.

The deal is another posthumous blockbuster deal for Jackson, whose estate has erased the singer’s massive debts through a mixture of new music and movie ventures and re-releases of the singer’s most popular music. Jackson’s estate benefits his mother and three children, known as Prince, Paris and Blanket.

“This agreement further demonstrates Sony’s commitment to the entertainment businesses and our firm belief that these businesses will continue to contribute to our success for years to come,” Sony Corp. president and CEO Kazuo Hirai wrote in a statement.

The sale does not include rights to Jackson’s master recordings or songs that he wrote, and the singer’s estate will continue to have a stake in EMI Publishing, Inc.

“This transaction further allows us to continue our efforts of maximizing the value of Michael’s Estate for the benefit of his children,” the co-executors of Jackson’s estate, attorney John Branca and music executive John McClain, wrote in a statement. “It also further validates Michael’s foresight and genius in investing in music publishing.”

Jackson purchased the ATV portion of the catalog in 1985 for $41.5 million, and he later merged it with Sony. It remained his most lucrative asset at the time of his death in June 2009 at age 50, though by that point Jackson was hundreds of millions of dollars in debt.

The deal for Jackson’s half of the Sony/ATV catalog is expected to close by the end of March.

Celebrities

Why would you post pictures in your underwear? – Portable out calls Tiwa Savage

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Nigerian singer Portable has raked reactions on social media after calling Tiwa Savage out for posting pictures in her underwear at 40 years old.

During his recent TikTok live stream, Portable, who is known for his outspoken personality, questioned the appropriateness of Tiwa’s posts, particularly given her status as a mother and her age.

“I’ve noticed something; someone needs to talk to Tiwa Savage, please. Tell her to calm down o. I’ve been listening to her music since I was small now I’m a father and mummy Tiwa savage is still posting pictures in her underwear. Only panties? Is it good for a mum to post pictures in her underwear?”

Despite his criticism, Portable admitted Tiwa Savage appeals to him, describing her as a “bad girl” who has maintained her appeal since her younger years.

“E dey enter my eye, make I no lie. The day I met Tiwa Savage and I hugged her, it felt like I hugged a mermaid and was being swept away. But someone should tell her to calm down with the naked outfits.”

In between hysterical laughter, the singer added, “Tiwa Savage, I swear to God, you’re appealing to me. you’ve been bad since you were 19 and you’re still a bad girl at 40, you’re still wearing panties at 40.”

His remarks sparked reactions from social media users, with some slamming him and others expressing their support for his views.

An outraged Instagram user asked, “What level of disrespect is this?”

“I actually don’t think he means any harm. He’s just not emotionally intelligent. So he lacks the methodology to communicate his message appropriately. He’s basically saying Tiwa’s dress sense is becoming ‘fighting temptation’ in a nutshell,” another person wrote.

Another comment read, “He should be shut.up..Tiwa savage is an entertainer…if nicki minaj did the same u would not talk.”

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AY Makun, Basketmouth discuss their 17-year feud

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AY Makun and Basketmouth have made their first public appearance together, marking a new chapter after their 17-year feud.

The rift between the two prominent comedians began in 2006 over unpaid performance fees and intensified in 2022, with both avoiding each other publicly.

In March 2023, AY claimed Basketmouth had yet to pay him for a show he anchored for him. Responding, Basketmouth described his colleague’s account of the incident as “lies”.

However, following Basketmouth’s apology in 2023, both comedians have put aside their differences.

In the latest episode of the ‘Glass House with AY‘ podcast, the comedian argued he did not get the money for the show while Basketmouth maintained that he was paid.

AY also shared insights into his prolonged rift with Basketmouth.

“I did not know when the fight started. I just noticed it started. Every day I wake up thinking it is a normal thing, boys will be boys and like that, it grew into several years,” he said.

“Then the third year, it seems like people were spreading more rumours about the feud till it lasted that long. It lasted too long”.

AY emphasised the feud’s impact on younger comedians. “Our feud caused some damages because in a way we were like providers for people,” he said.

Basketmouth added: “Most times people swear allegiance by default. So when we were not on good terms some people made it their business”.

“…A comedian called me to tell me AY reached out to him for a gig and was asking if it was okay to work with AY. I told him it was okay and I was happy it happened because people would know it was okay to work for either of us because it was about more money and opportunities.

“There was a guy who picked a side and came at me. Now that we are cool, he would be confused. It is collaboration over competition.”

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Paul Okoye accuses Peter of song theft, vows to release ‘original version’

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Paul ‘Rudeboy’ Okoye, the Nigerian singer, has accused Peter ‘Mr P’ Okoye, his twin brother, over alleged intellectual property theft.

Mr P recently released the single ‘Winning’ — a few months after the brothers confirmed that Psquare, their shared music group, no longer exists.

However, in a recent Instagram post, Rudeboy claimed that the song was his, arguing that it was supposed to feature in his forthcoming album. He also alleged the producer hijacked the track.

“Written and sang by Rudeboy. Produced by same producer. Now how come? Now am I supposed to release another version? Mr Producer, your case is for another day,” he wrote.

“Just a simple thing, bring 6 songs, let me bring 6 songs. I submitted 6 songs to the so-called management. Why re-singing my own song? word for word. Song that was supposed to be in my album next year June.”

In another post, the singer vowed to release “original versions of any copied songs”, adding that “the days of manipulation are over”.

“The days of manipulation are over. And to the management, make I hear any song wey na only me sing, I go release the original version. Oloriburuku! Music is not that hard,” he wrote.

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Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.

She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others

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