Judge Mitchell Beckloff issued a final ruling Wednesday permitting Michael Jackson’s estate to proceed with the $600 million sale of his catalogue to Sony Music.
This California appeals court ruling comes after Jackson’s mother, Katherine, attempted to block the deal, according to Billboard. Katherine reportedly issued objections to the sale, claiming it “violated Michael’s wishes.” The court ruled that the state’s executors, John Branca and John McClain, did not break the terms of Jackson’s will when they agree to sell to Sony, the outlet reported.
“The will gave the executors broad powers of sale, with no exception for the specific assets at issue in this case,” the court wrote, according to Billboard.
Michael Jackson performs on stage at the taping of the �American Bandstand�s 50th � A Celebration!”, to air on ABC TV on May 3, 2002. (Photo by M. Caulfield/WireImage) Getty Images
The Jackson estate and Sony Music reached a deal that would award half of the legendary singer’s catalogue to the entertainment giant at the cost of over $600 million Billboard previously reported. The deal reportedly included publishing and recorded masters.
Katherine challenged the initial ruling, claiming it violated standard inheritance rules by blocking the transfer of all of Jackson’s assets to his heirs, the outlet reported. The court confirmed the validity of a prior ruling, reportedly saying, “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.”
Michael Jackson performs during a taping for the “American Bandstand’s 50th…A Celebration!”, in Pasadena, California Saturday April 20, 2002. (Photo by M. Caulfield/WireImage) Getty Images
“The proposed transaction is not a gift or distribution of estate assets—it is an asset sale, pursuant to which the estate receives a significant monetary payment and interest in a joint venture,” the court asserted, according to Billboard.
“While the proposed transaction will result in the estate exchanging assets for cash and other valuable rights, it neither diminishes the estate’s value nor impairs the executors’ future ability to transfer the estate’s assets to the trust,” the court reportedly added.
Michael Jackson (Photo by KMazur/WireImage) Getty Images
It was also noted that Katherine had “forfeited” her arguments by failing to raise her objections with the lower probate court, Billboard reported. Katherine is still able to appeal the ruling to the California Supreme Court, although the chances for overturning the ruling remain low, according to the outlet. (RELATED: Newly Filed Court Documents Reveal Michael Jackson Was $500 Million In Debt: REPORT)
The Jackson family has been at legal odds over a number of issues since the star’s death in 2009. Jackson’s son Blanket previously requested the courts stop his grandmother from using estate money to fund her efforts to block the Sony deal. Blanket and Jackson’s other children have not disputed the probate judge’s ruling, according to Billboard.
