Beatles’ re-launch of albums ‘helps clear MJ’s debts’
September 20th, 2009 - 3:55 pm ICT by ANI
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London, September 20 (ANI): Beatles’ launch of their remastered albums and the video game The Beatles: Rock Band has apparently helped clear late singer Michael Jackson’s debts.
The King of Pop had bought the 250-song Beatles catalogue in 1985 for 47.5million dollars and now with the high selling of his own music and the relaunch of the Fab Four’s sound, it is estimated that his estate will net more than 250million dollars by Christmas.
In 1995 Sony had paid the pop legend 150million dollars for half the publishing rights to the songs, following which Jackson’s stake in Sony/ATV Music Publishing is now worth about 1billion dollars.
And as 14 Beatles albums top the charts around the world, Jackson’s estate is set to rise up to 50million dollars this year, reports the Daily Express.
After Jackson’s demise his own music has topped charts and is on its way to amass 200million dollars by Christmas. (ANI)
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