A court of appeals of California issued a final ruling stating that the estate of Michael Jackson You can proceed with the $600 million sale of the singer’s catalogue to Sony Musicrejecting his mother’s objections that sought to block the agreement.
A month after the appeals court issued a provisional ruling against Katherine Jacksonthe court finalized that decision on Wednesday, ruling that the executors of the estate (John Branca and John McClain) did not violate the terms of Michael’s will when they signed the mammoth deal with Sony.
“The will granted the executors broad powers of sale, with no exceptions for the specific assets at issue in this case,” the court wrote. “Therefore, [un juez de primera instancia] “He was not wrong in concluding that it was Michael’s intention to allow the executors to sell any assets of the estate, including those at issue in the proposed transaction.”
Beyond the merits of the agreement, The court also rejected Katherine’s appeal. for a simpler reason: that he had “lost” his arguments by not presenting them to a lower probate court.
He can still appeal the ruling to the California Supreme Court, although his chances of overturning it are low.
The sale of Michael Jackson’s music catalogue
As Billboard reported earlier this year, Jackson’s estate and Sony Music have reached a deal that will see the music giant purchase half of the singer’s publishing and masters catalog for more than $600 million.
But how Jackson’s estate remains pending in a Los Angeles probate court More than 15 years after his death in 2009, his executors took the then-confidential agreement to Judge Mitchell Beckloff for approval. When they did, Katherine raised objections, including that the sale “violated Michael’s wishes” and that the catalog would likely continue to gain value over time if preserved.
In April 2023, Beckloff rejected those objections and ruled that the deal could go forward. Katherine then filed an appeal, resulting in Wednesday’s ruling.
In the new decision, the court rejected several key arguments by Katherine, including her claim that the sale would violate basic rules of succession because it would prevent all of Michael’s assets from being transferred to his heirs. In doing so, the court said Michael’s will gave Branca and McClain “full power and authority” to make such transactions as long as they had control of the estate.
“The proposed transaction is not a gift or distribution of the estate’s assets, but rather a sale of assets, pursuant to which the estate receives a significant monetary payment and an interest in a joint venture,” the court wrote. “While the proposed transaction will result in the estate exchanging assets for cash and other valuable rights, it does not diminish the value of the estate or impair the executors’ future ability to transfer the estate’s assets to the trust.”
The disputes over Michael Jackson’s music catalogue
Disputes over the Sony deal have exposed the Divisions among Jackson’s heirsIn March, Jackson’s son Blanket asked a judge to stop his grandmother from using the estate’s money to fund her efforts to block the Sony deal. Although both had initially opposed the sale, Blanket and Jackson’s other children accepted the probate judge’s decision, which allowed it to go ahead.
Later that week, the estate responded to claims by Katherine’s lawyers that it needed money from the estate to pay for its legal battle, arguing that it had received more than $55 million since the singer’s death. The estate’s executors argued that “virtually no request by Ms. Jackson for her care or support has been denied,” including more than $33 million in cash.
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
