Michael Jackson music catalog, known as MiJac, has been moved to Sony-ATV from Warner Chappell.

From Showbiz411:

The Michael Jackson music catalog, known as MiJac, has been moved to Sony-ATV from Warner Chappell. In layman’s terms: this is a blow to Warner Music and a major win for Sony. Even though MiJac was heavily leveraged for years, I’m told the loan from HSBC is down to around $4 million. The Michael Jackson estate still owes just under $300 million to Bank of America on separate loans Michael took against his ownership in Sony-ATV Music Publishing.

What’s happened now is that Jackson’s long contract with Warner Chappell, the publishing division of Warner Music Group, expired last December. Sony-ATV, in which he has a 50% ownership interest, had the right to match or better any offer when MiJac’s deal with WMG was done. The deal was actually completed a couple of months ago, I’m told. But with all the brouhaha concerning Katherine Jackson and the Jackson siblings demand to oust Michael’s executors, an announcement was put off.

Now all of Michael Jackson’s music publishing will be in one place: Sony-ATV. MiJac holds all of his songs like “Billie Jean” and “Beat It” plus hundreds of other publishing copyrights including everything by Sly Stone. It’s a plum win for Sony and a devastating loss for Warner Music. Warner Chappell was the only part of that company still doing well. To lose MiJac, especially since Jackson’s death and the renewed interest in his music, is a heavy setback. It’s unclear whether that was explained to Len Blavatnik and his Access Industries group when they bought WMG from Edgar Bronfman Jr last year.

Meantime: it’s been underlined that now neither MiJac nor Sony-ATV or the Beatles catalog, is for sale. The Jackson estate has done an excellent job of paying down the various loans and renegotiating the interest rates in more favorable terms.