Sony buys major share in Michael Jackson catalog

(CNN)– Sony Music Group has agreed to buy half of Michael Jackson’s publishing and recorded masters catalog from the late singer’s estate.

Billboard is reporting the entire catalog has been valued to be at least $1.2 billion.

The outlet is also reporting that based off of that figure Sony will be paying at least $600 million for the transaction.

The deal will reportedly not include royalties from the broadway musical “MJ” nor any other theatrical production featuring his music.

However it does reportedly include publishing assets that are part of Jackson’s Mijac catalog.