Don’t Stop Till You Get Enough? When is enough ENOUGH? For $ony – Never.
Contemplation . . .
… But the dispute over the handling of ”Invincible’‘ grew out of a larger struggle between Jackson and Sony over Jackson’s effort this year to renegotiate his contract with the label, where he has spent his entire adult career, those involved in the negotiations tell the Times.
At issue are two sets of assets. One is Jackson’s master recordings, which Sony is supposed to turn over to him in seven years, but which he wants in three. (Owning those will mean he no longer has to split royalties with Sony.) The other is Sony/ATV, the music publishing company that Jackson co-owns with Sony, which holds the copyrights to several hundred thousand songs, including the catalogs of the Beatles and such Sony artists as Bob Dylan. (Last week, Sony/ATV bought Nashville publisher Acuff-Rose, which holds the rights to 55,000 country songs.) Both Jackson and Sony want to buy out each other’s stake in the publishing venture, the Times says.
It appears it wasn’t enough to take the man’s life, now they want his entire catalog (MiJac), his share of Sony/ATV, and all the profits that can be had from his music – released and unreleased, for the indeterminate future and with John Branca to help them, the possibilities for Branca and $ony’s profits are endless – as they previously and rather blatantly said, although they used the name “Michael Jackson” in place of $ony Corporation in their statement of greed ie:
“We and Sony feel that the future for Michael Jackson is unlimited,” said John Branca, a special administrator for the estate.
Actually, what is unlimited is John Branca’s and $ony Corporation’s collective greed, and Michael Jackson has little to do with that. In fact John Branca was the second person on his list of people Michael suspected were out to destroy him. Tom Sneddon was the first. And Michael was right about both of these men.
Michael Jackson ditched $ony years ago due to just the type of abuse as they are demonstrating now. They were the first (This Is ItAnd just what will be left for Michael’s children and family by the time $ony is done emptying the trough of every last drop of profit they can suck from him? When will $ony Corp. have stolen enough from Michael Jackson and his family? His very life wasn’t enough. What is? The term boundless greed comes to mind. film) and the second (this $250M deal) – not so coincidentally, to step in to profit off of his death.
The quote below is from the SonyATV website in August 2009, after Michael’s murder. I love their language: “$ony Corp. helped facilitate the deal“. That’s very interesting terminology. The vultures did was that they inserted themselves into the deal so as to keep hold of that catalog in the event that MJ defaulted, or in any event – like his death, for instance. They were constantly meddling in MJ’s financial business in order to manipulate their way to that catalog, as we can plainly see.
Despite media reports of investor interest in Jackson’s half of Sony/ATV, Sony Corp. remains in the driver’s seat. When a cash-strapped Jackson refinanced his debt with the Fortress Investment Group in 2007, Sony Corp. helped facilitate the deal and in return secured the right to purchase half of his share in Sony/ATV at a predetermined price; it also became managing partner of the publishing company, giving it operational control. Sony also obtained the right to match any future offers on Jackson’s remaining 25% stake. Separately, sources say that Sony/ATV also gets a first look at purchasing Jackson’s own Mijac catalog upon the expiration of its administration deal with Warner/Chappell.
From Lynton Guest, author of “The Trials of Michael Jackson“
In writing this book I investigated how, in his later years , Michael was beset with trials and tribulations which , on face of it, were unconnected to each other. There was the prosecution on child abuse charges, the downturn in record sales, the financial catastrophes and the struggles to retain ownership of assets such as Sony/ATV, his back catalogue of recordings and Neverland. Yet far from being coincidental, everywhere we detected the hidden hand of Sony Corporation attempting to orchestrate events.
Statistics back it up: The lame$tream media is part of the PROBLEM, as per usual . . .
Media Tenor International analyzed the news coverage of ABC, CBS, Fox News and NBC in the time frame from June 1st 2004 until May 31st 2009 with a total of 150 portrayals of Michael Jackson in at least 5 seconds of air time. 90% (135) of those portrayals dealt with Jackson´s court case, while only one of the reports concentrated on his career and another one on issues of culture.
And, the quote below from an LA Times article, corroborates the fact that AEG had Michael Jackson over a financial barrel and that in fact, that is why they targeted him as easy prey to be manipulated into doing the O2 shows for them. Oh they were ‘helping‘ him alright. They had complete financial control of him. They told him at one point to ’straighten up’ or they’d yank the financial rug out from beneath him. They were paying the rent on his house in LA, his children’s education/tutoring, etc. – everything. Michael himself said he never wanted to tour again or it would kill him. And so it did. Or I should say, THEY did.
The concerts, Phillips acknowledged, are a do-or-die moment for Jackson. “If it doesn’t happen, it would be a major problem for him career-wise in a way that it hasn’t been in the past,” he said.
‘The Estate’ and John Branca
The Probate Lawyer Blog featured this article about the Michael Jackson Estate several weeks ago, posing the question of whether it is ethical for estate executors to seek a 10% fee for certain business deals they reach for such a high-profile estate.
Well, this attorney, John Branca, and his co-executor, John McClain (a music executive), just hit the mother-load. It was widely reported yesterday that they brokered a deal worth up to $250 million dollars (that’s right — one quarter of a billion dollars!). What was the deal for? Sony announced a seven-year distribution agreement for unreleased music recorded by the late King of Pop (as well as related video footage).
Yes that means that Branca and McClain earned $12.5 million each for one deal.
Why do we question this? For several reasons, actually. First, it’s the job of executors to bring in as much money as possible for an estate that has earning potential like this estate has. They shouldn’t need a 10% incentive to do the job they’re required by law to do.