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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.

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Why I said Wizkid disrespected Don Jazzy – Mr. Macaroni

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Comedian and actor, Adebowale Adedayo, aka Mr Macaroni, has disclosed his reason for saying Afrobeat music singer, Wizkid, disrespected the Mavin Records boss, Michael Ajereh, popularly known as Don Jazzy by calling him an ‘influencer’.

Macaroni stated this on Wednesday during a live show on Wazobia TV in Lagos.

The comedian justified his position on Wizkid that although Don Jazzy is an influencer perhaps ‘the biggest entertainment influencer we have in Africa’, adding that the context in which Wizkid presented him was disrespectful.

He added that Don Jazzy is not just an ordinary influencer, saying the Mavin Records label boss influenced the music industry when he newly came out with Ricardo Banks, Tiwa Salvage, Korede Bello, Dija and up the new crops of music artistes.

Macaroni said, “Don Jazzy is an influencer and perhaps the biggest entertainment influencer we have in Africa. He is such a massive influencer in the entertainment industry, from music to film.

“His impact speaks volumes. So, while Wizkid’s comments about Don Jazzy were a bit disrespectful in context, Don Jazzy’s influence is undeniable.

“Look at when he has been doing it with the likes of D’Banj, Wande Coal, Dr Sid, De Prince and then to Maving Records when they newly came out with Ricardo Banks, Tiwa Salvage, Korede Bello, Di’ja and up to this new generation.”

He said Don Jazzy has been so successful that there can never be a discussion around shaping the music industry without mentioning him.

The comedian also described Don Jazzy as a champion and great influence whose impact is undeniable on the growth of the music industry.

“Don Jazzy is a champion. Of course, he’s an influencer; he’s a great influencer. He doesn’t do it for just music; he does it for content and films. All you need is just to add Don Jazzy as a collaborator. You don’t even need to have a million followers. If he loves what you have done, he will just accept your request and the millions of followers that he has can see the content.

“But, the way Wizkid worded it (influencer) when he (Wizkid) said “I can’t chat with an influencer.’ That context is what we find disrespectful,” he added.

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It’s shameful for Wizkid, Davido, Kizz Daniel, Tekno to fight online, says Paulo Okoye

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Paulo Okoye, the showbiz promoter, has slammed Afrobeats heavyweights over their recent feud on social media.

The chaos began on Monday when Wizkid taunted Davido and Don Jazzy, referring to the latter as an “influencer” and poking fun at the former with a video clip.

The singer’s posts attracted criticism from a segment of social media users, including celebrities.

Davido retaliated, labeling Wizkid’s career as “dead”.

Amid the ongoing exchange, Kizz Daniel and Tekno also traded jabs over their collaboration on the hit song ‘Buga’.

The ‘My G’ singer dug a two-week-old tweet by Tekno where he dismissed reports of receiving N1 billion in royalties from ‘Buga’ and subtly insinuated that Kizz Daniel lacked the means to pay such an amount.

In response, the Kizz Daniel taunted Tekno, claiming he “rescued” his career with their collaboration.

On Tuesday, Okoye took to Instagram to express his disappointment with the musicians. He called their behaviour “shameful” and appealed for peace.

“This going to STOP now!!This Shameful!!GrowUpMEN!!! Please STOP. @wizkidayo @davidoYou guys bigger than This Stop. Also @kizzdaniel @teknomiles STOP STOP Let’s Love Lead,” he wrote.

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Davido claims Wizkid begged him to join proposed joint tour

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Davido has claimed Wizkid “begged” him to participate in a proposed joint tour.

On Monday evening, a fight ensued between Davido and Wizkid on X after the ‘Ojuelegba’ hitmaker mocked him and Don Jazzy, the Mavin Records head honcho.

Wizkid called Don Jazzy an “influencer” while taunting Davido with a video of him on his knees, pleading and crying after a fan asked him to release new music.

The singer’s posts attracted criticism from a segment of social media users, including celebrities.

Reacting to the rift between the two music heavyweights, Tunde Ednut, the Instagram celebrity, shared a post wherein Wizkid announced the joint tour with Davido.

Ednut also asked if the joint tour will still come to life.

“So like this now, this tour no go happen again?” he wrote in pidgin English via his Instagram page.

But in a post via his Snapchat page, Davido implied that it was Wizkid who solicited for the joint tour.

“Beggie beggie,” 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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