DO YOU REMEMBER WHEN THERE WAS ALL OVER THE PRESS THE DISPUTE OF SONY TELLING THAT MICHAEL JACKSON USED THE ENTIRE ADVANCES FOR PRODUCING THE INVINCIBLE ALBUM AND THAT’S WAS ONE OF THE REASONS WHY THE COMPANY DID NOT SUPPORT HIM, ADDING HE WAS OWNING THEM 200 MILLION?
Many people think that record companies loan money to artists to record their album. Well, there is a big difference between an “advance” and a loan. Read More
What every fan should keep in mind – when reading something about Michael Jackson – is what the MAN himself told us in words/verses and have a concrete idea how things really work in the music industry. Then, Michael Jackson words become crystal clear.
Michael Jackson was not a newbie, neither naive nor ignorant. He knew the business very well. He grew up in the music industry and saw the music industry grew up with him. He did know everything, but sadly be aware of what surround you, sometimes it’s not enough to win a war.
When MJ and his brothers left Motown Records, signed on with CBS Records, in 1975. According to John Branca, after “Off The Wall”, he negotiated for MJ a separated contract and a new agreement with BMI, a company that collects artists royalties coming from the public performances of the songs (relating publishing, not recording royalties). Read More
The premise regarding the dispute between the Michael Jackson Estate and IRS is that nobody’s win in this judgment case (although some fans and people see it as a win-lose battle). The point is that the executors of the Michael Jackson Estate “screwed up” big time and went under IRS scrutiny implementing values to some assets completely out of the real market. And it must be clear that this trial happened after the Estate tried to strike the report of experts Mr. Anson and Mr. Nimmer, rejecting the adjusted values the IRS proposed after documents evaluation. The Estate challenge has been answered by calling them on trial for Feb 6, 2017. Read More
In the light of the confusion arose since the trial IRS/Estate of Michael Jackson started, we are going to summarize the issues going and that brought this trial set.
The Michael Jackson Estate filed an Estate tax return with a date of death valuation date of June 25, 2009, e reported a total gross estate of $57,203,929 with deductions of $57,203,929, which resulted in a taxable estate of $0.00.
IRS issued a statutory notice of deficiency on May 13, 2013. In the notice, IRS increased the values of various assets. The Michael Jackson Estate filed a petition on July 26, 2013.
Main issues to be solved:
- Michael Jackson name and likeness;
- Michael Jackson’s interest in New Horizon Trust II (Sony/ATV’);
- Michael Jackson’s interest New Horizon Trust III ( Mijac);
- Associated penalties
MJ Sony/ATV Shares Sold: The Never Seen Before “Trigger Notice” And The Sony Purchase Option Explained
The Trigger notice was not “shotgun” and Sony’s purchase option was a credit support and more an obligation than a right. Media never divulged the reason why Sony/ATV had such a huge corporate debt, and how revenues were being distributed. Yet these documents have never been “sealed”. They were accessible to journalists. Does it mean that investigative journalism no longer exists, or that MEDIA lives on financial connivances with the corporations? Read More
We have seen tons of posts linking the latest articles related Paul McCartney on his way to get the copyrights of his Beatles songs back. This news together with Sony purchasing the Michael Jackson Estate 50% shares in Sony/ATV Catalog created great confusion among MJ fans and thanks to misinformed blogs, we have the usual mess. Pro-estate fans claiming the Estate made the right choice to sell Michael’s 50% stakes and many others claiming the opposite. Read More