ROLE OF BEATLES' CATALOG IN
MICHAEL JACKSON'S HISTORY (PART 1)
Linda Deutsch, chief legal reporter
of Associated Press news agency, wrote:
"In 2002, Jackson launched a public feud with
then-Sony Music chief Tommy Mottola. Jackson,
following poor sales and alleged lack of promotion
of the album "Invincible," accused Mottola of being
a racist, saying he was "mean, he's a racist, and
he's very, very devilish." Several black industry
executives spoke in Mottola's defense and Sony
called his statements "ludicrous spiteful and hurtful."
FROM THE NY TIMES
TIM ARANGO and BEN SISARIO
Published: June 26, 2009
Mr. Jackson’s business life, like his public
life,was a perplexing mass of contradictions.
Unlike many performers, he was a keen negotiator
and shrewd investor — in 1985 he pulled off one
of the great deals in music business history
when he bought the publishing rights to the
Beatles catalog for $47.5million. Today it is
part of a larger collection of songs worth more
than $1 billion,and owned in partnership with Sony.
FROM ABC NEWS By DAN HARRIS
June 28, 2009
"Michael Jackson's investment in the Beatles'
catalog was one of the most brilliant coups
in all of music history,"
Sisario told ABC News. "The story goes that
one day at Paul McCartney's house they were
having dinner and Paul casually mentioned that
the way to make real money in the music business
is through publishing," New York Times music reporter
Ben Sisario told ABC News. "Michael took that to heart".
Alan Light said, "One thing that was speculated was
that Michael kind of knew how much Paul was going to
bid for this and knew what it was going to take to
top that bid."