Michael Jackson's answer back in 1984: $47.5-million. That meant that royalties from all sales, performances and broadcasts of Beatles music were split 50-50 between Jackson and the songs' writers (McCartney and John Lennon.)
Up until that time, McCartney and Jackson had a friendly personal and professional relationship, recording a couple of successful songs together in the '80s, "The Girl Is Mine" and "Say, Say, Say." In fact, it was after Macca reportedly told Jacko about all the money he made by owning other people's songs that Jackson became interested in getting into that side of the music business.
Let the Irony Begin
When Associated Television Corporation (aka ATV) put the publishing rights to its catalog of 4,000 titles (including most of the Lennon-McCartney Beatles songs) up for sale, Jackson was immediately interested. McCartney, not so much. He initially felt it would just be too expensive. Besides, no matter who owned them, he'd still be getting a cut of the royalties on those Beatles songs. At one point, he tried to get Yoko Ono to make a joint bid with him, but she declined. In the end, McCartney became a serious bidder, and dropped out only when Jackson's bid hit $43.5-million.
For Macca, it may well have been more matter of principle than of price. As he told London's Daily Mirror, "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." It was enough to irrevocably strain the relationship between the two onetime friends and collaborators.
What Happens to The Beatles Catalog Now?
Jackson is said to have been increasingly unhappy about the damage the deal had done to his relationship with McCartney. In fact, in January 2009, Daily Mirror, quoting unnamed sources, reported that Jackson had written a new will which would grant his portion of the publishing rights to 250 Beatles songs to Macca. That report has never been confirmed, so whether that's one of several versions of Jackson's will that are rumored to exist is still an unknown.
In 1995, Sony paid Jackson $95-million for 50% of the rights to the ATV catalog, including those Beatles songs, creating a joint venture now known as Sony/ATV Music Publishing, with Sony and Jackson each owning 50%.
Given the complexities of Jacko's financial dealings and his position as pop culture icon, it is likely to be years before ownership of half of the publishing rights to the Lennon-McCartney catalog is finally resolved. In the meantime, McCartney will continue to split 50% of the royalties with Lennon's estate.
No Hard Feelings?
In spite of rift between the two, McCartney seems content to look (publicly at least) on the bright side. In a statement reported by Associated Press, Macca said, "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."
