Sony purchases Michael Jackson's stake in music catalog for $750M

Music giant Sony is in the process of acquiring Michael Jackson‘s stake in Sony/ATV Music Publishing for a whopping $750 million.

After the sale, the estate of the late music legend will grant Sony full ownership in the music publishing company, which represents artists like the Beatles, Leonard Cohen and Bob Dylan.

Sony Entertainment CEO Michael Lynton said in a statement that ''this acquisition will enable Sony to more quickly adapt to changes in the music publishing business.''

Michael's estate will continue to retain his master recording