NPR: Sony will pay for the Michael Jackson’s 50% share of Sony/ATV.
The backstory here has more twists and shouts than a long and winding road (Couldn’t resist, but note that the rights to both “Twist and Shout” and “The Long and Winding Road” belong to Sony/ATV). Sony’s purchase marks the culmination of one of the most remarkable stories in the history of the music business.
It all started when Paul McCartney advised his young friend Michael Jackson that, to really make money in the music industry, you needed to own the publishing of hit songs. McCartney told CBS-TV in a 1989 interview that Jackson joked to him “One day I’ll own your songs.” To McCartney’s shock, Jackson was true to his word.