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Author Topic: Michael Jackson!
Ronnie
Going to the Prom with Tommy
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i figured that mtv would end up playing his videos. the radio stations are playing his songs in ultra mix.
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jdocster McFly you Irish bug

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Talent-wise it is a huge loss.


R.I.P

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Sir Sammy Hain Esq.
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A lot of speculation that his cardiac arrest was the result from stress and/or painkillers
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Lovers with Cassie
Remembering when Mel Gibson was young....
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There is a radio station in Geelong that I generally listen to, 91.9 BayFM, and yesterday they were playing Michael Jackson songs and nearly nothing else.
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Devolution
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Devolution here,

Let it be known that Revenge of the Nerds wouldn't be the movie it was if the wonder joints scene didn't have Thriller on right after it.

We are DEVO

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Sir Sammy Hain Esq.
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quote:
Originally posted by 80'sRocked:
Nice that my post got taken down for no reason at all.... [Roll Eyes] I guess the truth hurts. Yes, he was a great artist musically and I will continue to listen to it as well, but the world should not be praising a man who "allegedly" did such vial acts.
How many folks on here would have let their child spend the night at his ranch?

First off I had nothing to do with your post being deleted. I did see your post and fundamentally I agree with what you said but I also felt that it was the wrong place and time to say it; wrong place for sure. If you would have started a new thread and said it instead of here in the RIP thread it might not have been deleted.

Just my observation.

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Stitch Groover
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quote:
Originally posted by LoverswithCassie:
There is a radio station in Geelong that I generally listen to, 91.9 BayFM, and yesterday they were playing Michael Jackson songs and nearly nothing else.

Cassie, Channel 9 is airing a Michael Jackson special tonight at 7.30.

I read an interview with Molly Meldrum this morning, he said that he learnt of Michael's passing when he got a phone call from a radio station asking for his thoughts....

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Chris the CandyFanMan
Those Ain't Pillows......
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We'll see if the local radio stations do anything; most of them stopped playing his tracks after the initial scandal broke 16 years ago. Before that point, though, he seemed to be everywhere on the dial; indeed, the week before Free Willy debuted in theaters it seemed Will You Be There was played at least once a night. Safe to say that point was his high water mark in retrospect. Plus he did what I still consider the very best Super Bowl halftime show to date, perfomring Heal the World at SB XXVII (although perhaps having dozens of children on the field with him during the performance wasn't the best idea in retrospect).

Let's also pay tribute to his short films, which are quite entertaining, if far from Oscar material, in their own rights. When I took my first visit to Disneyland in the summer of 1989, Captain EO was one of my favorite attractions; even without the 3-D gimmick, it still holds up pretty well when viewed today (although perhaps having lots of whip wielders coming after him adds a little bit of an unnecessary subcurrent). I do like a lot the Smooth Criminal featurette inside The Moonwalker, which often VH-1 aired independently of the film proper during the late 90s and early 00s, with him doing a pretty good performance of the title track and good morphing effects of him turning into race cars and spaceships before blowing Joe Pesci up in one of the most over the top explosions I've ever seen. And his 90s Ghosts, while a little thin on plot, does at least entertain from start to finish, with a load of great effects to boot.

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Sir Sammy Hain Esq.
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One thing I read about in the past couple days is that there's a lot of recorded songs by Michael Jackson that were never released that could possibly be released in the future. Will be interesting to see if we'll ever get a chance to hear any of these songs.
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kevdugp73
He's eating after dark again....
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Sam...I think we can bet on that one...I'm sure that whoever gets control over his assets, including unreleased songs, will be likely to try to cash in...I can only hope that his kids benefit from that when it happens...
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Ronnie
Going to the Prom with Tommy
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i read that they library of unreleased music is supposed to go to his children upon his death.

but who knows what will happen.

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Dexter Motley Morgan
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I read somewhere that he was supposedly $400 million in debt yet owned some sort of music catalog with rights to Beatles songs which had afforded him the means for his lavish lifestyle. I hope whatever he had goes to the kids but you know there will be a Joe Blow on every corner with his/her hand out.......
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kevdugp73
He's eating after dark again....
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Mot...the story on the Beatles catalog is that when Michael and Paul McCartney did one of their duets together, Paul gave him the sound advice of investing in music rights. Years later, Michael outbid Paul at an aution to buy the rights to a ton of Beatles tunes, which ultimately ended their friendship.
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journey
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That's true, kevdugp73. When Jackson starting really raking in money he was young and still living at home. Not having any idea what to do with all the newfound millions he asked Paul McCartney for investment advice. McCartney suggested investing in music catalogs. Later, in 1985, ATV Music (the company D ick James and Charles Silver sold Northern Songs to in 1969) was put up for sale. McCartney tried to buy it, but found himself outbid by his friend Michael Jackson. He tried to get Yoko Ono to go 50/50 with him to outbid MJ, but she demanded a bunch of ridiculous stipulations and basically blew the deal. So Michael purchased ATV Music for $47 million and Paul McCartney hasn't spoken to him since.

Jackson merged ATV with Sony Music Publishing in 1995, creating Sony/ATV Music, retaining a 50% stake and greatly expanding his overall publishing catalog (plus reportedly receiving $95 million up front). But he ran into a lot of financial problems around the turn of the millennium and found himself unable to make payments on a $270 million loan he had secured against his publishing holdings. As part of his refinancing deal (and an additional $300 million loan he secured from Sony) he had to sell off half his interest in Sony/ATV Music. This reduced his overall interest in the company to 25%, giving Sony BMG controlling interest.

As of his death he was still deeply in debt and defaulting on loan payments left and right. Whoever inherits his assets will also inherit that debt and will likely lose a substantial portion of it. When Michael was alive there was always the possibility of him mounting a world tour, releasing a new album or puting together a Vegas show in order to bring in new income. That helped him secure loans and negotiate further extensions since the money people released he still had some really viable options. Now with his passing, the estate becomes more static. Income is derived strictly from assets which are not sufficient to keep up with the loan repayment schedules. So basically his heirs get to look forward to a lot of long, expensive legal wars and ultimately will probably lose most everything in the end. It's a huge mess.

[ 28. June 2009, 18:37: Message edited by: journey ]

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Dexter Motley Morgan
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Somebody will release those supposed un-released recordings if it comes down to that possibly. I think the debt thing has been a bit overplayed. True he owed a ton of money but still bein broke to a lot of stars means having worth dwindle down into the low millions.......
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SHOGUN
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I am still in Shock! RIP Bro Mike!

I was looking forward to the 26th of July, i had tickets. May he rest in a better place.

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buffalo-girl
She's going round the outside, round the outside...
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the family ordered a second autopsy to be done the first one showed cause of death from painkillers i believe and michael's parents claim michael was not taking any drugs ? they also said on the news the funeral may be this wednesday with special tributes and masses all over the country they also said !! michael's parents are also fighting for custody of his children along with his nanny and ex-wife linda who has had no contact with the children at all i am sure his parents will get custody at this point!!
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journey
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The court typically won't give equal consideration to grandparents when a biological parent is contending for custody. So if Deborah Jeanne Rowe (the mother of Prince and Paris) or the surrogate that bore Blanket push for custody of their respective children, they'll more than likely get it. The only hitch would be if they have some real problems that would qualify them as unfit parents, or if they're willing to relinquish custody to Joe and Katherine of their own volition.
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Colt 45
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RIP!
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jdocster McFly you Irish bug

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quote:
Originally posted by journey:
That's true, kevdugp73. When Jackson starting really raking in money he was young and still living at home. Not having any idea what to do with all the newfound millions he asked Paul McCartney for investment advice. McCartney suggested investing in music catalogs. Later, in 1985, ATV Music (the company D ick James and Charles Silver sold Northern Songs to in 1969) was put up for sale. McCartney tried to buy it, but found himself outbid by his friend Michael Jackson. He tried to get Yoko Ono to go 50/50 with him to outbid MJ, but she demanded a bunch of ridiculous stipulations and basically blew the deal. So Michael purchased ATV Music for $47 million and Paul McCartney hasn't spoken to him since.

Jackson merged ATV with Sony Music Publishing in 1995, creating Sony/ATV Music, retaining a 50% stake and greatly expanding his overall publishing catalog (plus reportedly receiving $95 million up front). But he ran into a lot of financial problems around the turn of the millennium and found himself unable to make payments on a $270 million loan he had secured against his publishing holdings. As part of his refinancing deal (and an additional $300 million loan he secured from Sony) he had to sell off half his interest in Sony/ATV Music. This reduced his overall interest in the company to 25%, giving Sony BMG controlling interest.

As of his death he was still deeply in debt and defaulting on loan payments left and right. Whoever inherits his assets will also inherit that debt and will likely lose a substantial portion of it. When Michael was alive there was always the possibility of him mounting a world tour, releasing a new album or puting together a Vegas show in order to bring in new income. That helped him secure loans and negotiate further extensions since the money people released he still had some really viable options. Now with his passing, the estate becomes more static. Income is derived strictly from assets which are not sufficient to keep up with the loan repayment schedules. So basically his heirs get to look forward to a lot of long, expensive legal wars and ultimately will probably lose most everything in the end. It's a huge mess.

no no no... What we need here is some background information about Jackson... [Smile]


Nice piece journey...  -

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Dexter Motley Morgan
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http://new.music.yahoo.com/michael-jackson/news/jacksons-will-cuts-out-ex-wife-debbie-rowe--61990644

According to this article, Jackson's stake in the publishing catalog is still estimated to be worth as much as $2 billion but yet only has net worth of $500 million? Even if you go higher than the figures you stated ($270 million +$300 million=$570 million), that's being $70 million dollars in arrears cash wise. If they sold the catalog presuming it is worth $2 billion to clear out the $70 million, that's still well over $1 billion worth. That's why I think the debt situation was made out to be a lot worse than what it actually was.......

[ 01. July 2009, 13:45: Message edited by: Faith No Motley ]

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journey
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I didn't say they couldn't settle the debt, just that they'd have to sell off most of his remaining 25% stake in order to do it. That still leaves many millions for his heirs, plus continuing income from his performer and songwriter royalties which are separate from his publishing catalog. It's just that the vast MJ fortune is not going to survive. His kids won't all end up being worth hundreds of millions, which is sad considering what MJ was once worth. Plus they're going to be embroiled in a giant legal fiasco for many years to come.
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Dexter Motley Morgan
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You're sadly right and plus what most people would consider a vast fortune (never being able to spend it all) they could probably have spent in a matter of years due to being used to living the high life....
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