Sony negotiating to sell its stake in the music publishing

Sony is eyeing the sale of its stake in the music publishing business and net £655 million ( $1billion). It co-owns with the estate of King of Pop legend Michael Jackson. Sony Co-owns the rights to most of the Beatle’s songs, Rolling Stones, Taylor Swift, Calvin Harris and Marvin Gaye.

Sony, the world’s biggest music publishing group, triggered a clause that would allow it to sell its half of the Sony/ATV Music publishing venture it has held for years.

Back in 1985, Michael Jackson purchased ATV music publishing for $47.5million and sold Sony a 50% stake for more than $100million in 1995.

Sony is in negotiation with the Jackson estate as the agreement  allows either partner to buy out the other side.

Rock with you Sony/ATV is co-owned with the Michael Jackson estate and owns rights to 3million songs.

London born, Harvard educated Michael Mark Lynton, the current chief executive officers of Sony Entertainment Inc. and chairman and CEO of Sony Pictures Entertainment  told his staff that that the company is deciding whether to sell is 50 per cent stake in Sony/ATV.