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Sony has agreed to acquire half of Michael Jackson ’s catalogue from the star’s estate in what is probably the richest transaction for a single musician’s.
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The deal, which has been gossiped about in the music industry for months, is said to involve Sony purchasing a 50% stake in Jackson s recorded music and songwriting catalogs. That includes not only the estate s share of megahits such as "Beat It" and "Bad," but also the music publishing assets that are part of Jackson s Mijac catalog, among them songs written by Sly Stone and tracks made famous by artists such as Ray Charles and Jerry Lee Lewis.