Michael Jackson: Stake in catalogue sells for $600m

Sony Music Group is understood to have paid at least $600 million (£475 million) for half of Michael Jackson's catalog.

If accurate, this would indicate that the singer's musical assets are valued at over $1.2 billion (£950 million), making it the largest-ever deal for the work of a single musician.

Michael Jackson, who passed away in 2009 at the age of 50, remains one of the most successful pop stars in history, having sold more than 400 million records worldwide. However, some sources suggest that his sales figures may be even higher.

His 1982 album, Thriller, still holds the title of the best-selling record of all time, according to Guinness World Records. Additionally, the King of Pop maintains a massive presence on streaming services, boasting almost 40 million monthly listeners on Spotify alone. Iconic tracks like Billie Jean and Beat It have each been played more than one billion times on Spotify.

An upcoming film biopic starring Jackson's nephew in the title role is also expected to further increase interest in his legacy.

The back catalog deal is also reported to include tracks by other artists acquired by Jackson's Mijac publishing group, said to include hits by Ray Charles, Elvis Presley, and Aretha Franklin. The sale was likely arranged with the Estate of Michael Jackson, which manages the late star's affairs.

Artists selling their back catalogs is a significant business endeavor. Bruce Springsteen reportedly made $500 million (£396 million), while Bob Dylan is understood to have received up to $450 million (£356 million) for his. Reports suggest that the rock band Queen is also planning a similar deal.