USA.- An appeals court in California has authorized the executors of the estate of Michael Jackson to proceed with the sale of its music catalogue to Sony Music Group, a transaction that could reach a historic valuation of between 1.2 and 1.5 billion dollars.
The ruling, issued on August 21, dismissed the objections of Katherine Jacksonthe legendary artist’s mother, who had tried to prevent the sale on the grounds that it would contravene the wishes of her son, who would have preferred to keep the catalogue to benefit from its increasing value over time.
The court found that the executors, John Branca and John McClain, acted within the terms of Michael Jackson’s will in moving forward with the sale. According to the ruling, Michael Jackson gave the executors broad powers to sell any assets in the estate, including those that are part of this transaction. The court reaffirmed that Jackson’s intent was to allow the sale of the assets, not prevent it.
Since Jackson’s death in 2009, the estate has been under the supervision of a probate court in Los Angeles. The transaction with Sony Music required approval from Judge Mitchell Beckloff, who had allowed the deal earlier this year. The appeals court’s recent decision confirms the validity of the sale, stressing that it is not a gift or a distribution of assets, but a sale that provides the estate with a significant payment and a stake in a joint venture.
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The case also reflects family tensions, with Michael’s youngest son, Bigi ‘Blanket’ Jackson, challenging his grandmother in court to prevent her from using estate funds to block the Sony deal.
Since Jackson’s death, the estate has faced numerous legal disputes, in part due to the artist’s significant debts. In June 2024, it was revealed that Jackson had left behind a debt in excess of $500 million. This debt has been a source of ongoing litigation, including a 2013 case in which the singer was found to have owed $395 million at the time of his death.
Michael Jackson’s complex financial situation, marked by accumulated debts and intricate financial agreements, has complicated the administration of his estate, highlighting the importance of this sale for the economic stabilization of his legacy.
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