Michael Jackson’s estate confirms intentions to buy Sony/ATV

Following reports that Sony Corp. is considering selling its share of Sony/ATV, Michael Jackson's estate has confirmed its intentions to buy the publisher.

Lawyer and executor of theMichael Jackson Estate John Branca revealed the news while clarifying reports about Sony/ATV’s Chairman and CEO Marty Bandier.

Hits has published a quote from Branca as he rebutted reports that he wished to succeed 74-year-old Bandier as Chairman/CEO of the world’s largest music publisher.

Branca wrote in an email:“I did not talk to them but Marty has been my dear friend for 30 years, and I completely support him. The story says we want to take the company over—true—but I do not want Marty's job.”

The email marks the first time Jackson’s Estate has spoken publicly about its intentions to purchase Sony/ATV. Whispers first began circulating last December where the recent leak of hacked Sony emails revealed Sony/ATV’s intentions to sell its 50% share (Sony/ATV is a 50/50 spilt venture between Sony Corporation and theMichael Jackson estate).

Then in a leaked email dated October 3 2015, Sony Corp. CFOKenichro Yoshidamade reference to the unstable conditions of the market, stating that the business “has a rather complex capital and governance structure and is impacted by the market shift to streaming."

While Sony Corp., Sony/ATV and the Jackson Estate have declined to comment the rumour mill is already churning with reports on which rivals will seek to become partners.

LA Times has picked Warner Music Group as an early favourite for admin partner, should the Jackson Estate buy out Sony Corp’s share of the publisher. WMG, which of course already owns fellow publisher Warner/Chappell as well as rights management company BMG, has the closest ties to the publishing sector. LA Times has reported, “Universal Music Group is not expected to be a buyer, due to antitrust hurdles.”

Sony/ATV Music Publishing manages 3 million copyrightsincluding the Beatles’ catalogue, as well as a roster of chart-toppers including Ed Sheeran, Drake, Sam Smith, Calvin Harris, Lady Gaga and Taylor Swift.