JACKSON set to lose BEATLES back CATALOGUE

Bee OK · **Posted:** Thu Mar 22, 2007 8:23 am

Michael Jackson is set to lose his Beatles' songs. The singer, who infuriate Sir Paul McCartney when he outbid him for the rights to the group's music 22 years ago, is being forced to sell the songs after running up huge debts.

Jackson has allegedly squandered his fortune on a lavish lifestyle. He also took out steep loans to fight recent child abuse charges.

In 1995, he was forced to sell part ownership of the catalogue, valued at ?750 million, to his former record company Sony and used his remaning share as security for loans.

The deal with Sony stipulated that if he was unable to pay the loans back he would have be required to sell the company the remainder of the catalogue by May 31 2008.

It is believed Sony will charge Jackson $US241 million for the expenses they have incurred.

Jackson hopes to repay ?150 million to a loans company once the sale is completed.

Meanwhile, it has been reported Jackson's reunion with the Jackson Five could earn him $US483 million.

The group - who last regularly performed together 23 years ago - are set to earn a fortune from playing 250 Las Vegas concerts over three years.

A world tour, a greatest hits album, two new songs, merchandise and product endorsements have also been discussed.

The band - comprising of Tito, Marlon, Jackie, Michael and Jermaine - are currently in talks with producer Jack Wishna, who was responsible for Celine Dion's live residency in Caesar's Palace.

source:Bang! Showbiz

Evil Dr. K · **Joined:** Mon Oct 25, 2004 11:51 am **Posts:** 6327

Such sickening excess.

I could live like a king off 'Savoy Truffle'.

Rick Derris · **Posted:** Thu Mar 22, 2007 9:48 am

Bee OK Wrote:

The group - who last regularly performed together 23 years ago - are set to earn a fortune from playing 250 Las Vegas concerts over three years.

Neverland indeed.

I'm not sure they could actually sell out 250 concerts. Even in Vegas. I think MJ is that tainted in this country.

MontyTheMongoose · **Posted:** Thu Mar 22, 2007 10:01 am

Rick Derris Wrote:

Bee OK Wrote:

The group - who last regularly performed together 23 years ago - are set to earn a fortune from playing 250 Las Vegas concerts over three years.

Neverland indeed.

I'm not sure they could actually sell out 250 concerts. Even in Vegas. I think MJ is that tainted in this country.

But there'll always be Marlon.

paladisiac · **Posted:** Thu Mar 22, 2007 2:39 pm

anything to bring back jermaine!

Spade Kitty · **Joined:** Mon Oct 25, 2004 11:49 am **Posts:** 4401

as long as they play Torture, I'm sure they'll bring the house down

also, how is michael going to hit those high kid-notes in say you'll be there? talk about modulation hell...

Spade Kitty · **Joined:** Mon Oct 25, 2004 11:49 am **Posts:** 4401

also, I wonder why Randy isn't involved

Radcliffe · **Posted:** Thu Mar 22, 2007 2:50 pm

Bee OK Wrote:

it has been reported Jackson's reunion with the Jackson Five could earn him $US483 million.

I guess that extra 3 million is tacked on to fool people into thinking someone actually calculated this.

shiv · **Posted:** Thu Mar 22, 2007 9:23 pm

Spade Kitty Wrote:

also, I wonder why Randy isn't involved

Wikipedia Wrote:

He was recently in the hospital for chest pains. There was rumors he had a heart attack. He is fine now.

MontyTheMongoose · **Posted:** Fri Mar 23, 2007 9:52 am

paladisiac Wrote:

anything to bring back jermaine!

Jermaine was already a ubiquity during Michael's most recent molestation trial, so he's never left.

Also, if there's (apparently) a missing member, why not have Jermaine's son, Jermajesty, replace that one, a la Wolfgang van Halen subbing for Michael Anthony (assuming that reunion ever happens)?

no guru · **Posted:** Fri Mar 23, 2007 10:09 am

Jermajesty a la Wolfgang

nice hiphop name.

almost as good as Idol Waterworkz Gurl.

MontyTheMongoose · **Posted:** Fri Mar 23, 2007 10:16 am

Meldrick Lewis Wrote:

almost as good as Idol Waterworkz Gurl.

She's thirteen, by the way. I was shocked -- shocked -- to find that out. From the sound of it, I would have figured ten, at most.

shiv · **Posted:** Fri Mar 23, 2007 3:19 pm

BRING THE REVOLUTION Wrote:

Meldrick Lewis Wrote:

almost as good as Idol Waterworkz Gurl.

She's thirteen, by the way. I was shocked -- shocked -- to find that out. From the sound of it, I would have figured ten, at most.

3 more years and you can hit it.

saint · **Joined:** Mon Oct 25, 2004 1:28 pm **Posts:** 4271

wow that's an incredible story.

MontyTheMongoose · **Posted:** Fri Mar 23, 2007 9:56 pm

shiv Wrote:

BRING THE REVOLUTION Wrote:

Meldrick Lewis Wrote:

almost as good as Idol Waterworkz Gurl.

She's thirteen, by the way. I was shocked -- shocked -- to find that out. From the sound of it, I would have figured ten, at most.

3 more years and you can hit it.

Thanks, brah. I suppose I should have expected that, since I'm kind of the BosoxSiobhan of Obner.

JACKSON set to lose BEATLES back CATALOGUE

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