Showbiz411.com have exclusively revealed that plans are developing to move MiJac Publishing away from it’s current administering company, Warner Chappell, and will become part of Sony/ATVMusic Publishing.
MiJac Publishing, owned entirely by Michael’s Estate not only owns all Michael’s iconic hits, but also those of Ray Charles, Curtis Mayfield and Sly and the Family Stone, to name but a few. Previously administered by Warner Chappell, in the face of the decline in the record industry, it could be that MiJac will leave them and become part of Sony/ATV Music Publishing, the company that the Michael Jackson Estate co-owns with Sony, and contains the Beatles Catalogue.
According to sources, this arrangement was written into the MiJac contract with Warner Chappell years ago. It would be triggered by the release of Michael’s next album–in this case, the recent ‘MICHAEL,’ and the repayment of loans.
The move by MiJac to Sony/ATV is important for many reasons. With both WMG and EMI Music for sale, Sony/ATV could be checking out each company’s publishing divisions for purchase. But Warner Chappell might be less interesting to Sony ATV considering they’re already getting MiJac and without MiJac, Warner Chappell–which just had a down quarter–might not look so good to other potential buyers.
What may happen now: the newer, and very hot, BMG Music Rights will likely make a play for EMI Music Publishing. EMI Music, the record company, which has the Beatles physical albums and box sets in its catalog, could then be merged with another record company like Sony Music or, even Warner Music.
Source: Showbiz411 Online & MJWN