Saturday, June 26, 2010

Jacko retains Beatles songs

"Michael Jackson's estate keeping control of 50% stake on rights to more than 250 Beatles songs."

The tunes are the estate's most valuable asset, so the estate executors considered selling to Sony/ATV Music Publishing LLC to pay off $500 million in debt.

But they would prefer not to sell off the Beatles catalogue because of its long-term value and the consistent cash it generates, sources told Bloomberg News.

Instead, it's likely the estate will refinance a $300 million loan that's due later this year.

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