Sony buys out Michael Jackson music venture stake

Sony is paying Michael Jackson's estate 526m pound for the late pop star's share of a joint music publishing venture that it does not already own.

Jackson held a 50 per cent stake in Sony ATV Music Publishing as part of a business partnership that began in 1995, reported BBC online.

The purchase will give Sony the rights to about three million songs, including works by the Beatles, Bob Dylan and Taylor Swift.

However, the deal does not include Jackson's master recordings.

His estate will maintain its holdings in Mijac Music, which owns all the songs written by Jackson, as well as EMI Music Publishing.
 

The purchase of Jackson's stake also strengthens Sony's US entertainment business, which includes a film studio and music recording company.