The Chicago Tribune reports today that Michael Jackson has agreed to sell half of his extensive music publishing catalog to avoid foreclosure on several large loans. The Michael Jackson catalog, which includes the rights to 251 Beatles songs, is said to be worth about $1 billion. Reports say that Mr. Jackson has signed a $325-million refinancing agreement to pay off a large portion of his debt.
(kindly submitted by PLUGGED correspondent Joan M. Hopkins)
©1994-2013 Harald Gernhardt. All Rights Reserved