Sony
The tracks are leftovers from the albums Jackson recorded for Sony, according to Rob Wiesenthal, chief financial officer of the Tokyo-based companys U.S. operations. Most are owned by the late singers estate or Sony, he said.
“It will get worked out,” Wiesenthal said yesterday in an interview at a media conference in Pasadena, California, sponsored by Fortune magazine. “It will take time.”
Wiesenthal said he met yesterday with John McClain, a former music executive and friend and manager of the late singer, who died on June 25 in Los Angeles. McClain, the former head of urban music at DreamWorks, was named co-executor of the singers estate. The other, John Branca, was Jacksons lawyer for much of the artists solo career.
Most of Jacksons top-selling albums, such as “Off the Wall,” and “Thriller,” were recorded during his years with Epic, a Sony label. The master recordings, which encompass everything recorded while making the albums, are controlled by Sony, Wiesenthal said. Full ownership of the masters will eventually revert to Jacksons estate, he said.
McClain declined to comment, according to spokesman Jim Bates of Sitrick & Co.
When Jackson recorded the 2001 release “Invincible,” he and Sony spent more $35 million to create tracks, Wiesenthal said. The majority didnt make it onto the album, he said. There are also many unreleased tracks from other albums.
Sorting Through Songs
The focus is on sorting through everything the artist has recorded and figuring out who has an ownership interest in each recording. Some producers, for example, may claim that they have a stake in the tracks, Wiesenthal said.
Since Jacksons death, there have been inquiries from companies interested in purchasing the singers stake in Sony/ATV, the music publishing company jointly owned with Sony, Wiesenthal said.
“Theyre inquiring,” Wiesenthal said. “But its not for sale.”
Branca, in an e-mail this week, said the estates stake in Sony/ATV, which owns Beatles and Bob Dylan songs, “is not for sale.” According to Wiesenthal, the executors must first assess tax liabilities before they can consider selling any assets.