CNN - Sony Music Group has agreed to buy half of Michael Jackson's publishing and recorded masters catalog from the late singer's estate.
Billboard, citing sources, is reporting the entire catalog has been valued to be at least $1.2 billion. The outlet is also reporting that based off of that figure, Sony will be paying at least $600 million for the transaction.
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The deal will reportedly not include royalties from the Broadway musical "MJ," nor any other theatrical production featuring his music.
However, it does reportedly include publishing assets that are part of Jackson's Mijac catalog. That includes songs written by Sly and the Family Stone as well as hits written or performed by legends such as Jerry Lee Lewis and Ray Charles.
Reps for Sony and the Jackson estate have declined to comment.
