Michael Jackson and his family are back in the news due to a $750 million sale of his half of Sony back to Sony Music. While some media sources call this a sale to the “Michael Jackson estate,” there are conflicting reports about who actually owns the estate instead of MJ’s survivors such as Katherine Jackson, Prince, Paris, or Blanket.
Reports about Katherine Jackson having a hard time with her health resurfaced around February 20, according to Radar Online, and speculations surrounded the fact she was pictured using a wheelchair at the funeral of a close friend.
Part of the trouble that might also be on Katherine Jackson’s mind pertains to claims that Michael Jackson had signed over a large portion of his estate to creditors in the years before his death — and recently sued for an unknown sum, according to a December 29, 2015, report from My News L.A. The details of the case are as follows.
“Bain, Qadree El-Amin, Broderick Morris and Adean King say they collectively own about 15 percent of the company under a 3 A.M. deal to which Jackson agreed in a Tokyo hotel room on June 1, 2006. King was the only one of the four not present when the alleged accord was reached.”
Does this mean that Katherine Jackson will not have all of the estate issues settled before her death? Although My News L.A. provided an update on the case with Bain, El-Amin, and others on February 1, there is no current verdict about the alleged creditors. For now, it can be assumed that the creditors will not have access to the $750 million from the Sony sale.
As previously reported by the Inquisitr on January 3, it can be assumed that Katherine Jackson may also use some of the $750 million to ease the issues surrounding lawsuits that have been filed against various members of Michael Jackson’s estate or his other extended family members.
Despite worries in the past about the Michael Jackson estate becoming unstable, Katherine Jackson can rest easy from now on, because Forbes verifies on March 14 that as far as paying out to the estate that his children have inherited, the money coming from the sale of Michael Jackson’s half of Sony/ATV to Sony for $750 million will, in fact, benefit them directly.
Furthermore, Forbes describes the level of wealth that the Michael Jackson estate will still have in the years to come and explained that he was still one of the “highest-paid dead celebrities” in 2016 despite having passed away in 2009. They go on to describe the staying power of Michael Jackson’s wealth with the following.
“The estate still retains control of Mijac Music, which contains Jackson’s own publishing rights, as well as its stake in a chunk of recently-acquired EMI publishing rights. That, along with the Jackson-themed Cirque du Soleil show One in Las Vegas and further releases of new music.”
For Michael Jackson fans concerned about Katherine Jackson’s spirits over the past years since his death, the finalization of the Sony deal could mean better days are on the horizon for her.
On the other hand, it is also rumored that Katherine Jackson is not happy about Paris and her new Hollywood hairdo, according to insiders.
On March 1, Katherine Jackson became aware of how popular Paris’ new haircut was on social media, and it made Katherine uncomfortable, according to She Knows. They write that insiders claim that Paris cut her hair into a “David Bowie-inspired haircut” and did it to spite her grandma, Katherine Jackson, because her grandmother loved Paris’ hair — and Paris has actively decided to be defiant against Katherine.
These insiders also claim that Paris and Katherine often butt heads, but Katherine is firm about her rules. It is alleged that she wants Paris to stop using social media for a short period of time.
Immediately following this, on March 2, it was reported by Radar Online that Leonardo DiCaprio’s manager, Rick Yorn, and Paris Jackson were hanging out because she was considering acting for the first time.
Was Katherine Jackson actually upset about Paris Jackson’s haircut, or is there another reason the two might have tension? On March 10, the Daily Mail published pictures of Paris out with her friends having coffee and mentioned that the real distress Katherine Jackson is feeling about her granddaughter might be one of separation anxiety, because Paris has a life-altering birthday coming up.
Paris will turn 18-years-old on April 3, and according to the Daily Mail, “When she turns 18, Paris will no longer be under the guardianship of grandmother Katherine and cousin TJ Jackson, as she has been since her father’s death in June 2009.”
[Photo by Phil Walter/Getty Images]