Paul McCartney is set to win back the rights to The Beatles songs.
The veteran rocker, 71, lost ownership of the publishing rights to the songs he co-wrote with late bandmate John Lennon.
Sir Paul was furious when his former friend Michael Jackson outbid him to buy the Associated Television Corporation (ATV)'s back catalogue, which includes The Beatles' tracks, in 1985.
Paul, pictured in San Francisco on August 9, is set to win back The
Beatles back catalogue
The King Of Pop paid a reported $47.5million for between 160 and 260 Beatles classics, including Yesterday and Let It Be.
However, the 1976 US Copyright Act means Sir Paul will now be able the claim back the titles once more in five years, according to The Sun.
A source told the paper: 'Paul's been fuming for decades. It's as much personal as business. Now he'll get back what's rightfully his.'
The Act means songs written prior to 1978 turn into the property of the songwriter after 56 years.
Paul will be able to receive royalties from Sgt Pepper's Lonely Hearts Club Band and Abbey Road albums
Sir Paul and Michael, who recorded
several songs together in the '80s, including The Girl Is Mine, famously
fell out over the purchase.
No
doubt Sir Paul, who has a reported £680 million fortune already, will
be looking forward to receiving royalties and licensing money for tracks
he wrote in the '60s and 1970.
Years
ago, he complained at having to pay Michael royalties every time he
wanted to perform a Beatles song: 'The annoying thing is I have to pay
to play some of my own songs. Each time I want to sing Hey Jude I have
to pay.'
While it is unknown how much the back
catalogue would be worth nowadays, in 2005, Sony paid Michael $95million
for 50 per cent of the rights.
Paul, pictured in 1983 with late wife Linda, famously fell out with Michael Jackson over the purchase of the rights
When Jackson died in 2009,Paul
denied reports he was 'devastated' not to have been left the rights by
the tragic singer in his will.
He said at the time: 'The report is
that I am devastated to find that he didn't leave the songs to me. This
is completely untrue. I had not thought for one minute that the original
report [about the will] was true, and therefore the report that I'm
devastated is also totally false.'
In an interview after Michael's
death,Paul admitted his resentment against the singer had faded
somewhat: 'I got off that years ago. It was something for a while I was
very keen on and you can see why, naturally... [but these] sort of
things can eat you up.
'I
feel privileged to have hung out and worked with Michael. He was a
massively talented boy man with a gentle soul. His music will be
remembered forever and my memories of our time together will be happy
ones.'
Paul, Ringo, John and George in 1967
No comments:
Post a Comment