The Wall Street Journal: Sony made $250 million bet on Michael Jackson music library before ‘Leaving Neverland’ documentary [MarketWatch]
SONY CORP (SNE)
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Source: MarketWatch
Sony made $250 million bet on Michael Jackson music library before ‘Leaving Neverland’ documentary Sony Corp.’s Sony Music Entertainment SNE, +0.08% last year entered a deal worth $250 million for the rights to distribute Michael Jackson’s recordings over seven years, according to a person familiar with the matter. That investment looks riskier following a new documentary accusing the late pop star of sexually abusing young boys. “Leaving Neverland,” which aired in two parts Sunday and Monday evening on HBO, details the accounts of two men who say Jackson abused them as children years ago while urging them to keep their relationships secret and courting their families. Both men previously gave sworn testimony denying any abuse. A jury in 2005 acquitted Jackson of child sex-abuse charges. In response to the documentary, the singer’s estate has launched a counteroffensive against HBO, filing suit against the AT&T Inc. T, -0.10% unit for $100 million in damages. Jackson’s family has
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