Sony 'to ask Michael Jackson for Beatles rights' - reports

Ananova

Sony bosses are to ask Michael Jackson to give the company his half-share of The Beatles' publishing rights, according to US media reports.

The singer bought the rights to the Beatles' songs from British firm Associated Communications Corporation in 1985.

He sold 50% of the rights to Sony in 1991 for £70 million.

But he asked Sony to guarantee a £140 million loan he raised with his remaining 50% share of the rights in the mid-1990s.

US cable channel Fox News reports the company is now to ask him to hand over the share.

Sony Music Publishing's president, Richard Rowe, is likely to "call the note," meaning it will ask Jackson to sign over his security to Sony, leaving the company responsible for repaying the loan and in full possession of all the rights to the songs.

The catalogue, valued in total at up to £420 million, is one of Sony Music Publishing's key assets and full control of it would allow them to exploit it further.

A source told Fox News: "Sony will either make him a cash offer for the catalogue or just call the note.

"But it's going to happen. Richard Rowe is on the phone with them all the time."

Sony's share price is expected to gain a boost if the company takes full control of The Beatles' publishing rights.

would this mean Sony would reissue all the Beatles albums, and the Capitol's would go out of print?

in a way, I suppose that would be nice payback to Capitol for reissuing the Pink Floyd 75-80 catalogue that used to be Sony's

Originally posted by BuffySlayer79
would this mean Sony would reissue all the Beatles albums, and the Capitol's would go out of print?

in a way, I suppose that would be nice payback to Capitol for reissuing the Pink Floyd 75-80 catalogue that used to be Sony's

No. Michael Jackson/Sony only owns the publishing rights, not the recordings. Those are owned by Apple/EMI.

By the way, Capitol just reissued Floyd's The Final Cut. I don't like the fact that they inserted "When The Tigers Broke Free" into the running order.

Originally posted by AKA
No. Michael Jackson/Sony only owns the publishing rights, not the recordings. Those are owned by Apple/EMI.

By the way, Capitol just reissued Floyd's The Final Cut. I don't like the fact that they inserted "When The Tigers Broke Free" into the running order.

why is Capitol releasing the post-Dark Side catalogue that was on Columbia for so many years?

Originally posted by BuffySlayer79
why is Capitol releasing the post-Dark Side catalogue that was on Columbia for so many years?

Pink Floyd, themselves, own the recordings, and not the record company (or companies). So it's up to band who issues their albums. Wherever the money's right, I guess. It's kind of like how George Harrison's post-Extra Texture albums were originally issued on Warner Bros, but are now on Capitol.

Columbia was only licensed to issue these albums for a number of years. A Momentary Lapse Of Reason and The Division Bell will eventually wind up on Capitol, as well.

There was a similar situation with Paul McCartney. He issued five albums (everything from 1979's Back To The Egg to 1984's Give My Regards To Broad Street) on Columbia in America (but remained on EMI everywhere else). When he went to Columbia, his back catalogue went with him, so there are records and CDs of Paul McCartney's old albums floating around out there on the Columbia label.

When he returned to Capitol in 1985, so did his back-catalogue, including the five albums that were originally recorded for Columbia.

Another scenario like this is the Foo Fighters. Their first two albums were originally issued by Capitol, but they have since been reissued by the band's current label, RCA.

When you're well-off enough to own your own recordings, you have more freedom.

Can't believe I forgot this - another example of a catalogue moving to a different record label is The Beach Boys. Their 1970-1985 material was original issued on Reprise Records, but it's been on Capitol since 2000.