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Author Topic: The Estate of Michael Jackson All News & Info  (Read 23784 times)

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Ben971

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Re: Michael Jackson and John Branca - a Major Wrap Series
« Reply #15 on: December 10, 2010, 10:04:44 PM »
Didnt like the tone sometimes either, but I thought some of the infos were interesting too. Dont know which is true either. I hate when I dont know the people writing, b/c I dont know how much I can trust them.

Offline moonstreet

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SonyATV makes Warner approach
« Reply #16 on: January 22, 2011, 11:22:05 AM »
http://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/8275022/SonyATV-makes-Warner-approach.html

SonyATV makes Warner approach
Sony/ATV, the music publishing group behind Michael Jackson's catalogue, held talks late last year to buy Warner-Chappell, the $2bn-plus music publishing arm of Warner Music.

By Amanda Andrews, Media Editor 7:30AM GMT 22 Jan 2011

News of the discussions with Sony/ATV came as it emerged on Friday that private equity house KKR has also held talks to buy Warner-Chappell from Warner Music, the home of recording legends such as the Bee Gees and Fleetwood Mac.

The news sent Warner's shares up 23pc in early trading.

Warner Music is simultaneously being advised on tabling a bid for EMI should lender Citigroup get the keys to its British music rival later this year.

Separately, sources told The Daily Telegraph that Guy Hands' Terra Firma late last year embarked on a last-ditch attempt to hold on to debt-laden EMI by approaching Warner Music to buy its recorded music division alongside another financial player.

After hearing that Warner Music was holding talks to sell its publishing arm, sources said Mr Hands made an informal approach to Warner chief executive Edgar Bronfman for its recorded music division in December.

Terra Firma is expected to breach banking covenants on EMI in May, as its investors have been unwilling to inject more funds into the music group. However, the private equity group is understood to have convinced some current investors and potential partners to help it reach an agreement with Citigroup over funding if it can secure Warner's recorded music arm and merge it with EMI. Current investors include Canada Pension Plan and potential partners are understood to include a sovereign wealth fund and another private equity group.

Although not an official appointment, Terra Firma is understood to have worked with Morgan Stanley on M&A activity around EMI.

Investors were attracted to the fact that buying Warner's recorded music division would give EMI international scale and a US presence. Such a move is seen as a last-ditch attempt by Terra Firma to hold on to what would most likely be a minority stake in EMI. Industry sources, however, said Terra Firma would have difficulty pulling off such a deal with a covenant breach so close, and most expect the private equity firm to lose control of EMI.

The news comes as companies including Warner Music and KKR's BMG Rights Management are circling EMI in the light of the covenant breach. Warner is understood to have hired Goldman Sachs to advise on the approaches.

All the music groups refused to comment.

Ben971

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Re: SonyATV makes Warner approach
« Reply #17 on: January 22, 2011, 12:09:21 PM »
Jackson’s own music is held in the Mijac music catalog, which is managed by Warner Chappell. In addition to Jackson’s hits, the catalog also contains music from Sly and the Family Stone.  Am I wrong, or does this sound really bad?

Offline elusive moonwalker

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Re: SonyATV makes Warner approach
« Reply #18 on: January 22, 2011, 07:05:57 PM »
why would it be bad. if sony/atv bought warner it would make them even bigger and bring in more $ mjs owns the rights to mijac W.C just paid for the right to administer them.
« Last Edit: January 22, 2011, 07:09:47 PM by elusive moonwalker »

Offline MJVoyeur

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Re: SonyATV makes Warner approach
« Reply #19 on: January 23, 2011, 04:43:57 PM »
There's that name again! Goldman Sachs. :hmmm: I thought they went bust first in the Wall Street crash? :confused1: I know the gov't gave bailouts but still.  :confused1:It very scary for Michael because that 250 million will seem like chump change because there was a plan to send michael to the poor house. I read the Goldman Sachs thread. I don't want Sony or Goldman Sachs doing anything that would hurt Michael and his children.

Ben971

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Re: SonyATV makes Warner approach
« Reply #20 on: February 16, 2011, 07:01:06 PM »
Michael Jackson Song Catalog Will Moonwalk to Sony/ATV Publishing

02/16/11 12:08pm Roger Friedman  :roger:

Exclusive: Michael Jackson, even in death, remains in the middle of the current musical chairs deals in the declining record industry.

For all these years, Michael’s MiJac Publishing has been administered by Warner Chappell, part of what is now Warner Music Group. MiJac includes not only Michael’s hits that he wrote, like “Billie Jean” and “Beat It,” but a vast number of other hits including those of Ray Charles, Curtis Mayfield, and Sly and the Family Stone.

Warner Chappell doesn’t own MiJac but it administers the rights to it and collects hefty fees. With WMG for sale, and talk of Warner Chappell being sold off, MiJac would seem like an integral part of their story.

But there’s a hitch that I can reveal to you: MiJac is leaving Warner Chappell and going to become part of Sony/ATV Music Publishing, the company that Michael Jackson’s estate co-owns with Sony and contains the Beatles catalog.

According to sources, this arrangement was written into the MiJac contract with Warner Chappell years ago. It would be triggered by the release of the next Jackson album–in this case, the recent “Michael”–and the repayment of loans.

The move by MiJac to Sony/ATV is a big deal for many reasons. With both WMG and EMI Music for sale, Sony/ATV could be kicking the tires of each company’s publishing divisions for purchase. But Warner Chappell might be less interesting to Sony ATV considering they’re already getting Mi Jac. And without MiJac, Warner Chappell–which just had a down quarter–might not look so good to other potential buyers.

What may happen now: the newer, and very hot, BMG Music Rights will likely make a play for EMI Music Publishing. EMI Music–the record company, which has the Beatles albums in its catalog–the physical albums and box sets–could then be merged with another record company like Sony Music or, more horrifyingly, Warner Music. Stay tuned.



http://www.showbiz411.com/2011/02/16/michael-jackson-song-catalog-will-moonwalk-to-sonyatv-publishing
« Last Edit: February 16, 2011, 07:35:46 PM by Ben971 »

Offline moonstreet

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Michael Jackson estate earns $310 mln in revenue
« Reply #21 on: February 18, 2011, 08:43:02 AM »
http://www.reuters.com/article/2011/02/18/people-michaeljackson-idUSN1721040920110218

Feb 17 (Reuters) - Michael Jackson's estate has generated $310 million in revenue from album sales, a film, merchandising and other products since the "Thriller" singer died in 2009, according to court papers filed on Thursday.

His estate's administrators have used $159 million to pay down the pop star's debt, which when Jackson died amounted to more than $400 million, court records show.

"Although there remain unresolved creditor claims, pending litigation and additional challenging business, tax and legal issues, and the estate is not yet in a condition to be closed, the executors have made substantial progress in reducing the estate's debt," the documents state.

The records, which were made public as part of the estate's probate proceedings, are the most detailed accounting yet of the finances of Jackson's estate from his death until December 31, 2010.

Beneficiaries of the estate are Jackson's children, his mother and various charities. Attorney John Branca and music executive John McClain were named administrators in a will the "Thriller" singer signed before he died in June 2009 from an overdose of drugs, most prominently the anesthetic propofol.

The singer's physician at the time, Dr. Conrad Murray, has been charged with involuntary manslaughter in the death and has pleaded not guilty.

Jackson's 1982 release "Thriller" remains the best selling album of all time. Industry players think his estate can generate cash for years to come, just as dead stars like Jimi Hendrix, John Lennon and Elvis Presley continue to rake in millions.

Among the projects making money for Jackson's estate are the new album "Michael," which contains previously unreleased songs, and the concert movie "This Is It," which compiled videotaped rehearsals for a series of comeback concerts in London. Various merchandising and licensing deals have also swelled the coffers. Jackson's recordings are released by Epic Records, a unit of Sony Corp (6758.T) (SNE.N).

Noteworthy costs included a $900,000 payment to Forest Lawn Memorial cemetery where Jackson's body is interred, and $35,000 in expenses listed as "costume for memorial."

Administrators paid $27.2 million in taxes, as well as $5.3 million for Jackson family members and properties he owned. They made $4 million in mortgage payments on his properties. (Reporting by Alex Dobuzinskis; Editing by Bob Tourtellotte and Dean Goodman)


AsISeeIt

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Re: SonyATV makes Warner approach
« Reply #22 on: February 18, 2011, 05:35:04 PM »

"But there’s a hitch that I can reveal to you: MiJac is leaving Warner Chappell and going to become part of Sony/ATV Music Publishing, the company that Michael Jackson’s estate co-owns with Sony and contains the Beatles catalog."

Can anyone define "become part of Sony/ATV"?  Does that mean Michael's music would be administered by Sony/ATV or does it mean it would it be part of the catalog....which would give Sony/ATV half ownership of Mijac...Michael's music?  I certainly hope that means Sony/ATV will be administering it and not owning it.

LastTear

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Re: SonyATV makes Warner approach
« Reply #23 on: February 18, 2011, 07:46:13 PM »
 :wave: AsISeeIt, Thats a very good point, I think they would take over the administering but I'm not exactly sure, sorry.

Ben971

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Re: SonyATV makes Warner approach
« Reply #24 on: February 21, 2011, 11:47:02 PM »
From Gaz on MJJC

Guys

I am able to below share with you all the below email from the Estate

------ Forwarded Message
From: John Branca
Date: Mon, 21 Feb 2011 15:18:31 -0600
To: Jeff Jampol
Subject: Michael Jackson/Mijac

Jeff:


I understand that you are being asked a lot of questions about Mijac.

Yes, there is a matching right that Michael granted to Sony/ATV but they only get to administer the catalog for a limited term AND only if they agree to unprecedented favorable terms. We will not relinquish ultimate control and ownership to anyone. We have favorably refinanced the loans on Mijac which will be paid off and the catalog WILL absolutely be passed to Michael's children as long as we have anything to say about it.

Sony/ATV is a great company and the Estate owns half of it but no one, not even Sony/ATV, will ever own Mijac while John McClain and I remain in charge.

The current Sony team is the one Michael chose to work with on the Thriller 25 release and they are good partners. As stated in the recent court filings, they worked with us to refinance the burdensome debt that had been placed on Michael's interest in Sony/ATV to very favorable terms, an important achievement which insures that Mijac and Michael’s masters remain secure for the benefit of Michael's children for years to come.

I would appreciate your sharing this with the fans that are asking questions.

Thanks – John

John Branca
Co-Executor
The Estate Of Michael Jackson
Los Angeles, CA


http://www.mjjcommunity.com/forum/showthread.php?t=109051

LastTear

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Re: SonyATV makes Warner approach
« Reply #25 on: February 22, 2011, 10:23:19 AM »
 :goodpost: Ben  Thank you, I impressed that John Branca would take the time to clear this up.

LastTear

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Probate Records Reveal Michael Jackson Worth
« Reply #26 on: February 22, 2011, 01:51:57 PM »

Probate records reveal Michael Jackson's worth

Probate & Estate Administration 21 Feb 2011


 Probate records have revealed the amount of money that Michael Jackson's estate has earned since his death.

The deceased singer has brought in £310 million (£190,912,180) from merchandising, album sales and a film since his death in 2009.

When he passed away, he owed $400 million but $159 million of this debt has now been covered by estate administrators using his earnings, probate solicitors have revealed.

The document revealed: "Although there remain unresolved creditor claims, pending litigation and additional challenging business, tax and legal issues, and the estate is not yet in a condition to be closed, the executors have made substantial progress in reducing the estate's debt."

Beneficiaries of the late singer's estate include his mother and three children, Prince Michael, 14, Paris, 12 and Blanket, eight.

In addition, the importance of using good legal solicitors was shown by a recent case in which Joe Corre, disputed his father's Malcolm McLaren's will.

Mr Corre claimed that Mc McLaren, founder of the Sex Pistols, was not mentally competent enough to make probate decisions before his death.
http://www.co-operative.coop/legalservices/latest-news/Probate--Estate-Administration/
Published by Phil Hammond


michaela

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Re: SonyATV makes Warner approach
« Reply #27 on: February 22, 2011, 06:51:51 PM »
That's great news! Indeed, The Estate is doing a great job!  :clapping:

LastTear

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Who Is John McClain
« Reply #28 on: March 06, 2011, 12:07:32 PM »
From reading the Jacks Facts notes much has been made about the elusive John McClain we know he is an executor of Michael's will so therefore at some stage Michael must have held him in high regard but what do we know about his relationship with Michael and the rest of the Jacksons.  What can we find out about John McClain, lets start with an introduction.


John McClain Interscope!
Posted on July 1st, 2009 in John McClain, Michael Jackson by lalate



John McClain of Interscope Records will be co-executor of Michael Jackson’s estate. John McClain of Interscope Records with Michael Jackson’s Trust comes after playing an important role in Janet Jackson’s career years earlier.

LALATE broke to you first last night that John Branca and John McClain will be the two executors of Michael Jackson’s estate. Branca is a lawyer and McClain a famed music executive.

Little has been written about McClain over the years. But now as the creative half that will oversea the Jackson catalog, the Beatles catalog and other unmatched Michael Jackson assets, that is about to be change.


John Branca and John McClain were  in a 2002 will drafted by Jackson. It is unclear as of Wednesday if McClain knew of Jackson’s selection of him prior to this week.

McClaim helped launched Janet Jackson’s career at A&M records before coming to Interscope, launched in 1990 by Jimmy Iovine and Ted Field with a 53% equity stake / support from Atlantic Records.

A 1993 interview with McClain gives insight as to how he perceives leadership skills. When asked about Jimmy Iovine, McClain said to the LA Times:

“Most record heads want a 21-gun salute while they tell you what they’re SAT scores are, but Jimmy’s like Columbo. He downplays his business skills, so it’s very easy to underestimate him. But that’s the worst thing you could do. You don’t find out how smart he is until its too late.”

McClain was one of Interscope Records’ founding team members. Success came quickly in 1991 with “Rico Suave” by Gerardo, then Marky Mark and the Funky Bunch the next year.

But the big one arguably was a 1992 agreement by which Intescope would distribute the newly created label, Death Row Records, created by Suge Knight and Dr. Dre.

As broke last night, Michael Jackson’s will is expected to be presented to a Los Angeles court this week. The will called for Jackson’s estate to go into a Trust to be administered by McClain and Branca and called for sole custody of his kids to go to Jackson’s mother, Katherine Jackson.

Recently financial documents had indicate Jackson had $331 million in debt, assets at $567.6 million. The assets include Neverland (which reports years before valued at in excess of $120 million but sold a $35 million stake to Colony Capital in fall of 2008), his own music catalog, and his share of the Beatles catalog (which some unconfirmed reports Sunday claim that Jackson had borrowed against in recent years from Sony). The five page document allegedly claims Jackson at the time to have a mere $668,215 in cash on hand.

For continuing coverage of the Michael Jackson tragedy click here: http://news.lalate.com/category/michael-jackson.


LastTear

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Re: Who Is John McClain
« Reply #29 on: March 06, 2011, 12:35:33 PM »
McClain, Janet and 'Control'

http://en.wikipedia.org/wiki/Control_(Janet_Jackson_album)

BackgroundJackson's message to the fans in booklet:

"I'd like to thank everyone who was involved with this album.

Special thanks to Joe Jackson Productions.

A very special thanks to John McClain for giving me the inspiration and drive to do anything I want, and for being there when I needed him the most. I Love You.

A special thanks to Mother for loving me, and for sticking by my side through this project no matter what it was I had decided to do. I love You Very Much, Mother.

And a very special thanks to Jimmy & Terry for making this album a great experience, for helping express the way I feel through this album, and for showing Melanie and me such great fun while working on this project. I Miss You Guys So Much!

Love You, Jan"
Joseph Jackson, patriarch of the Jackson family of musicians, was known for managing the careers of all nine of his children; most notably, the successful career of The Jackson 5.[3] After arranging a recording contact with A&M in 1982 for a then-sixteen year old Janet, he oversaw the entire production of her debut album, Janet Jackson, and its follow-up, Dream Street (1984); the latter of which was written and produced by her brothers Marlon and Michael, and Jesse Johnson.[4] Best known as a television actress, she was initially reluctant to begin a recording career. She expressed, "I was coming off of a TV show that I absolutely hated doing, Fame. I didn't want to do [the first record, Janet Jackson]. I wanted to go to college. But I did it for my father ..." and elaborated she was often in conflict with her producers.[5] Amidst her professional struggles, she rebelled against her family's wishes by marrying James DeBarge of the family recording group DeBarge in 1984. The Jacksons disapproved of the relationship, citing DeBarge's immaturity and substance abuse. Jackson left her husband in January 1985 and was granted annulment later that year.[6]

Jackson subsequently fired her father as her manager and employed John McClain, A&M Records then-senior vice president of artists and repertoire and general manager.[7] Commenting on the decision, she stated, "I just wanted to get out of the house, get out from under my father, which was one of the most difficult things that I had to do, telling him that I didn't want to work with him again."[5] Joseph Jackson resented John McClain for what he saw as an underhanded attempt to steal his daughter's career out from under him, stating: "I've worked hard for my family. The problem comes, though, when others come in behind you and try to steal them away. The wheels have already been set for Janet Jackson. Anyone who jumps on now will be getting a free ride."[8] McClain responded by saying "I'm not trying to pimp Janet Jackson or steal her away from her father."[8] He subsequently introduced her to the songwriting/production duo, James "Jimmy Jam" Harris III and Terry Lewis, former Prince associates and ex-members of The Time.

[edit] Composition and productionWhen Jam and Lewis agreed to produce Jackson's third studio album, they wanted to primarily appeal to the African American community, in addition to achieving crossover success on the pop music charts. Jam commented in an interview with Rolling Stone magazine, "[w]e wanted to do an album that would be in every black home in America ... we were going for the black album of all time."[3] Prior to their association with Jackson, Jam and Lewis had originally planned to record an album with tracks they wrote for Sharon Bryant, but she found their lyrics and sound to be too "rambunctious".[9] The duo presented the same set of recordings to Jackson, who gave her input and took co-writing and co-production credits for the album's content.[9] Jam and Lewis recalled that in order to fully collaborate with Jackson on the material, they spent the first week simply getting to know their new client. Lewis explained that "[w]e got into her head. We saw what she was capable of, what she wanted to say, where she wanted to be, what she wanted to be. We put together some songs to fit her as we saw her, as she revealed herself to us. It was as simple as that."[10]

 "Nasty"

Jackson's second single "Nasty" is one of the primary examples of what inspired the new jack swing sound, mixing funk with contemporary R&B in addition to its triplet swing beat. The songs lyrics recount Jackson's encounter with sexual harassment.

--------------------------------------------------------------------------------
 
Problems listening to this file? See media help.

For the song "What Have You Done for Me Lately", which was originally penned for one of Jam and Lewis's own records, the lyrics were rewritten to convey Jackson's feelings about her recent annulment from James DeBarge.[11] The song was chosen as the lead single for Control, as Jam and Lewis felt it best represented Jackson's outlook on life.[11] "Nasty", which in Jackson's opinion was the most innovative song on the album, was inspired by one of her experiences in Minneapolis when a group of men made crude advances towards her outside of the hotel she resided at during the recording of Control.[11] She recalled: "They were emotionally abusive. Sexually threatening. Instead of running to Jimmy or Terry for protection, I took a stand. I backed them down. That's how songs like 'Nasty' and 'What Have You Done for Me Lately' were born, out of a sense of self-defense."[12] Jimmy Jam wrote and played the keyboard arrangement, with Jackson playing the accompaniment. Background vocals were sung by Jackson, Jam and Lewis.[11] The distinctive triplet swing beat of the song was developed by Jam via Ensoniq Mirage keyboard.[11] "Let's Wait A While" was centered around safe-sex and abstinence, a subject of significant social commentary at the time. Jam commented that it is common practice for songwriters to use current events as a means of inspiration for lyrics and that the AIDS pandemic had raised awareness about sexually transmitted diseases. He commented "[t]he theme of the song (`Let's Wait Awhile') was Janet's idea. She's not a preachy person. She's not telling people how to live their lives. All she's doing is offering an opinion."[13]

Though Joseph Jackson initially demanded his daughter's new album be recorded in Los Angeles in order to keep an eye out for her, Jam and Lewis refused.[10] They required the entire production of the album to be done at their own studio in Minneapolis, "far from the glitter and distractions of Hollywood and the interference of manager-fathers."[10] Jam stated "[w]e required that they put her in our hands. We had to do it on our turf, with no bodyguards, no star trips and none of Joe Jackson's people hanging around making suggestions."[10] Control was recorded at Flyte Tyme Studios, the site for Flyte Tyme Records, founded by Jimmy Jam and Terry Lewis in Minneapolis, Minnesota; John McClain served as the executive producer.[14][15] Jam and Lewis were the primary instrumentalists for the recording, including percussion, piano, drums, and also provided background vocals.[9][15] Jackson accompanied Jam and Lewis on keyboard and took part in composing the arrangements.[9][15] Stephen Holden of The New York Times observed the album was prominent example of the developing relationship with musicians and modern technology, stating "... technology has altered the form, shape, scale and even the meaning of popular music ... The album wasn't created by a studio band, as were most pop-rock albums in the 1960s and '70s, but by the producers and the singer programming mechanized drum and keyboard textures."[16] Jackson's father disapproved of the new material and image of Control, claiming it would never sell.[8] In a cover story for Spin magazine titled "Damn It, Janet: The Battle for Control of Janet Jackson," Joseph was reported saying "f Janet listens to me, she'll be as big as Michael."[17] She and McClain disregarded his objections.[8] Commenting on the final product, Jackson stated: "It's aggressive, cocky, very forward. It expresses exactly who I am and how I feel. I've taken control of my own life. This time I'm gonna do it my way."[18]