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TopicMichael Jackson really bought Eminem's catalogue after Em dissed him ?
Incredible
02/04/24 3:03:44 PM
#12:


CreekCo posted...
Vegas stays are literally a thing for major artists who are up in age

They don't sign up for literally 50 dates in less than a year LOL, that was never done before. His financial problems in his final years are well documented: https://en.wikipedia.org/wiki/Michael_Jackson#Final_years,_financial_problems,_Thriller_25_and_This_Is_It_(2005%E2%80%932009)

Holmes also found that Jackson was on the verge of bankruptcy and was involved in 47 ongoing lawsuits.

In April 2006, Jackson agreed to use a piece of his ATV catalog stake, then worth about $1 billion, as collateral against his $270 million worth of loans from Bank of America. Bank of America had sold the loans to Fortress Investments, an investment company that buys distressed loans, the year before. As part of the agreement, Fortress Investments provided Jackson a new loan of $300 million with reduced interest payments (equivalent to $440 million in 2022). Sony Music would have the option to buy half of his stake, or about 25% of the catalog, at a set price. Jackson's financial managers had urged him to shed part of his stake to avoid bankruptcy.

In July 2008, Fortress Investments threatened to foreclose on Neverland Ranch, which Jackson had used as collateral for his loans.
In 2009, Jackson arranged to sell a collection of his memorabilia of more than 1,000 items through Julien's Auction House, but canceled the auction in April.

In March 2009, amid speculation about his finances and health, Jackson announced a series of comeback concerts, This Is It, at a press conference at the O2 Arena. The shows were to be his first major concerts since the HIStory World Tour in 1997. Jackson suggested he would retire after the shows.

All info cited, have a seat

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