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posted by [identity profile] makaidiver.livejournal.com at 10:05pm on 12/02/2004
He was set for a millionaire's life for life the minute he bought the rights to the Beatles songs. He could do nothing for the rest of his life and the investment would pay off big bucks in perpetuity.

Yeesh.

It's still his and still an astonishingly rich piece of collateral, though. It'll be interesting to see what happens.
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Re:

posted by [identity profile] askye.livejournal.com at 11:31pm on 12/02/2004
I found a CNN article that said Sony would be interested in owning the Beatles collection out right, but a spokesperson or someone for Micheal Jackson said that he would never, never sell the Beatles catalouge becuase it meant too much to him. It's worth 900 million dollars by the way.

But even if he did sell, it's enough to cover some of his loans and that's it. He wouldn't actually see any of the money. According to a NY Times article I read he only sees half the money he earns the rest goes straight to the Bank of America to cover his line of credit.

He's have to start selling off his other possessions.



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