Saying he own the Beatles catalogue is a lie. And every time he had to face rough times, which was the case the last decade, he had to sell his shares. He probably don't have a anything to do with this cataloque anymore if he had to save Marioland!!
somehow the record game reminds me/ of the baseball card game
DocMcCoy"Go and laugh in your own country!" 5,917 Posts
Technically, not all of it. He gave up a good chunk of his own rights to Sony, a company he no longer has any association with.
He still has some nominal ownership rights, but when the inevitable sell-off comes, he won't have any say in where the catalog ends up. He only controls a 50% share anyway, with Sony controlling the other 50%. As has been well documented elsewhere, he put that share up as collateral against the success of "Invincible", which didn't really materialise. I read somewhere recently that an outfit called the Fortress Investment Group (who specialise in "distressed" debt, whatever that is) bought his debt ($200m worth) from the Bank Of America, after he defaulted on a $300k payment, and that debt has to be paid off by the end of the year. Sony has first refusal on the purchase of the catalog, so they may end up with it yet. Oh, and Tommy Mottola hasn't been at Sony for quite some time now.
DocMcCoy"Go and laugh in your own country!" 5,917 Posts
Here's a free idea for the MJ comeback attempt: "Jackson sings the Beatles"
guaranteed salez.
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I believe this was being seriously considered at some point after "Dangerous" had been released.
Comments
guaranteed salez.
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And every time he had to face rough times, which was the case the last decade, he had to sell his shares. He probably don't have a anything to do with this cataloque anymore if he had to save Marioland!!
namblapalooza
Phil Spector should take up 'man boy love' so he can be down too( after he's acquitted of murda natch).
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Very similar
He still has some nominal ownership rights, but when the inevitable sell-off comes, he won't have any say in where the catalog ends up. He only controls a 50% share anyway, with Sony controlling the other 50%. As has been well documented elsewhere, he put that share up as collateral against the success of "Invincible", which didn't really materialise. I read somewhere recently that an outfit called the Fortress Investment Group (who specialise in "distressed" debt, whatever that is) bought his debt ($200m worth) from the Bank Of America, after he defaulted on a $300k payment, and that debt has to be paid off by the end of the year. Sony has first refusal on the purchase of the catalog, so they may end up with it yet. Oh, and Tommy Mottola hasn't been at Sony for quite some time now.
I believe this was being seriously considered at some point after "Dangerous" had been released.
I doubt he has any say. I also doubt he wouldn't allow it if he had a say.