Mijac & Sony/ATV
There have been numerous questions asked regarding the Mijac catalog and reports in the press of it moving to Sony/ATV. Below is an email from Co-Executor John Branca to Jeff Jampol, GM of the MJ Online team, clarifying some of what has been publicized through various media outlets.
Forwarded Message From: John Branca Date: Mon, 21 Feb 2011 15:18:31 – 0600 To: Jeff Jampol
Subject: Michael Jackson/Mijac
Jeff, I understand that you are being asked a lot of questions about Mijac. Yes, there is a matching right that Michael granted to Sony/ATV but they only get to administer the catalog for a limited term AND only if they agree to unprecedented favorable terms. We will not relinquish ultimate control and ownership to anyone. We have favorably refinanced the loans on Mijac which will be paid off and the catalog WILL absolutely be passed to Michael’s children as long as we have anything to say about it. Sony/ATV is a great company and the Estate owns half of it but no one, not even Sony/ATV, will ever own Mijac while John McClain and I remain in charge. The current Sony team is the one Michael chose to work with on the ‘Thriller 25,’ release and they are good partners. As stated in the recent court filings, they worked with us to refinance the burdensome debt that had been placed on Michael’s interest in Sony/ATV to very favorable terms, an important achievement which insures that Mijac and Michael’s masters remain secure for the benefit of Michael’s children for years to come.
I would appreciate your sharing this with the fans that are asking questions. Thanks – John
John Branca Co-Executor, The Estate Of Michael Jackson, Los Angeles, CA
Source: MJOnline (The Official Online Team Of The Michael Jackson Estate) & MJWN