Reality TV World Show Updates   People News   Ratings News   Scheduling News   Application News   Spoiler News
Features & Interviews   Sexy Social Pics of the Day   Things to Know Profiles   Message Boards   Shows Listing

HOME > OTHER ENTERTAINMENT NEWS > Music NEWS

Michael Jackson sued over Beatles music catalog


UPI News Service, 07/12/2005 

A financial firm is suing Michael Jackson for nearly $25 million for failing to pay for his financial restructuring and acquisition of Beatles' music.

ADVERTISEMENT
The suit filed Monday by Prescient Acquisition Group Inc. charges the pop star with breach of contract and claims he owes $48 million for its help in his purchase of the rights to the Beatles' catalog as well as the refinancing of his $272 million debt to Bank of America, "Entertainment Tonight" reported Tuesday.

Jackson already owned half the Beatles catalog when he moved to acquire the rest last fall. Among his valuable holdings are copyrights for "Come Together,""A Hard Day's Night,""Let It Be,""Michelle,""Yesterday,""We Can Work It Out," and "She Loves You."

The suit filed in Manhattan's U.S. District Court asks that Jackson be ordered to pay an immediate $24.8 million to Prescient, which includes 9 percent of the financing Jackson used to pay his Bank of America debt along with a $3.3 million advance.


Get more Reality TV World! Follow us on Twitter, like us on Facebook or add our RSS feed.




Copyright 2005 by United Press International










Take Our User Survey





Page generated Sun Aug 28, 2016 6:21 am in 2.281574010849 seconds

About Reality TV World   •   Advertise on Reality TV World  •   Contact Reality TV World  •   Privacy Policy   •   RSS Feed



Page fetched in 2.2984249591827 seconds