Billboard reports...

California appeals court has issued a final ruling that Michael Jackson’s estate can proceed with a $600 million sale of the singer’s catalog to Sony Music, rejecting objections from his mother that aimed to block the deal.

A month after the appeals court issued a tentative ruling against Katherine Jackson, the court finalized that decision on Wednesday – ruling that the estate’s executors (John Branca and John McClain) didn’t violate the terms of Michael’s will when they inked the gargantuan deal with Sony.

“The will gave the executors broad powers of sale, with no exception for the specific assets at issue in this case,” the court wrote. “As such, [a lower judge] did not err in concluding that it was Michael’s intent to allow the executors to sell any estate assets, including those at issue in the proposed transaction.”

Beyond the merits of the deal, the court also rejected Katherine’s appeal for a simpler reason: that she had “forfeited” her arguments by failing to make them before a lower probate court.

Katherine’s attorneys did not immediately return a request for comment. She can still appeal the ruling to the California Supreme Court, though her odds of overturning the ruling are low.

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There is more behind the link.

The possibility of appealing to the California Supreme Court remains, but the odds of overturning this ruling appear slim.

planet clicker

repeatspectral said:

The possibility of appealing to the California Supreme Court remains, but the odds of overturning this ruling appear slim.

planet clicker

CynicKill said:

RODSERLING said:

MJ lived a good decade full of hundred millions dollars of debts, when all he had to do was to sell from time to time some parts of his catalogue,if not entirely. That determination to keep the ATV catalogue in his pocket ultimately lead him to accept the 50 This Is It concerts, when he wasn't physically and psychologically not able to do just one. Now these are these motherfuckers that profit from the sale of his catalogue. There's a morale in this story for sure.

He spent the money. He lived. Whether he was in debt is irrelevant. Had he sold then, he or his heirs would have gotten way less and also lost out in profit in the years since. He absolutely was able and willing to do the concerts, had the doctor not killed him. If he didn't want to do it, he would have found other ways to make money.

CynicKill said:

Seems on the low side to me. Not even a billion?

That is only for 50 % of the catalog. The estate still owns the other half.

RODSERLING said:

CynicKill said:

Seems on the low side to me. Not even a billion?

MJ was supposed to have in the 2000 half of a 1,5 billion dollars catalogue. surely streaming revenues aren't as big as what CDs and downloads were.

That was Sony/ATV. Those 50 % were already sold for 750 mio dollars.

TrivialPursuit said:

There is more behind the link.

the bots learned from your clever link-a-dinks, dude

Not really about this topic. But Tito has just passed at age 70. He's the 3rd sibling to pass away, with Marlon's twin Brandon plus Michael.