Paul is getting set to battle it out for his song right. Paul is facing a battle of the music billionaires in his bid
to buy back the rights to 251 Beatles songs written by him and John.
Sony Music is planning to sell its 50% share in the back
catalogue – which brings in tens of millions of pounds in royalties
every year – following the devastating hack attack on the company’s
computers.
Financial experts reckon Sony’s stake could go for up to £1.3billion.
But
it has emerged the estate of Michael Jackson which already owns the
other 50% is also planning a massive bid, along with billionaire moguls
David Geffen, 71, and Len Blavatnik, 57, who owns Warner Music.
Paul has always rued the fact Jacko managed to acquire the half share of the catalogue for a mere £30.4million in 1985.
Jon
Rubin, a music industry financial expert based in LA, said: “I would
imagine Sir Paul will need to find other investors and form a consortium
if he is to stand a chance of once more owning the unforgettable songs
he and John wrote.”
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