Paul McCartney Wouldn't Buy Beatles Catalogue Back From Jackson
Friday August 12, 2005 @ 02:00 PM
By: ChartAttack.com Staff
Paul McCartney
Paul McCartney has quashed rumours he is intent on buying Michael Jackson's 50 per cent stake in The Beatles' song catalogue.
Reports of Jackson's financial woes prompted speculation he would sell off the rights to all the Beatles' songs he acquired 20 years ago.
The ex-Beatle told Ireland Online the original agreement that allowed Jackson to acquire the song rights will eventually expire.
"The interesting thing is, there are actually things in the whole deal that actually revert to me anyway," McCartney says. "There are years approaching, there are dates approaching, that we never though would approach, where things revert to me. So really, it's a waiting game rather than a big, proactive buying game."
"That suits my personality: just hang on, be patient, it's cool. Don't get your knickers in a twist," he added.
Last month, the financial company Prescient Acquisitions Group Inc. hit Jackson with a $48 million U.S. breach-of-contract lawsuit in U.S. District Court in Manhattan. The firm alleges the pop star owes it money for helping him secure the $537 million he needed to pay off a debt to the Bank of America.
Jackson bought the publishing rights to 250 Beatles songs in 1985 for $47.5 million after outbidding both Paul McCartney and Yoko Ono.
McCartney will make a tour stop at the Air Canada Centre in Toronto on October 10 to support his 20th LP, Chaos And Creation In The Back Yard
Friday August 12, 2005 @ 02:00 PM
By: ChartAttack.com Staff
Paul McCartney
Paul McCartney has quashed rumours he is intent on buying Michael Jackson's 50 per cent stake in The Beatles' song catalogue.
Reports of Jackson's financial woes prompted speculation he would sell off the rights to all the Beatles' songs he acquired 20 years ago.
The ex-Beatle told Ireland Online the original agreement that allowed Jackson to acquire the song rights will eventually expire.
"The interesting thing is, there are actually things in the whole deal that actually revert to me anyway," McCartney says. "There are years approaching, there are dates approaching, that we never though would approach, where things revert to me. So really, it's a waiting game rather than a big, proactive buying game."
"That suits my personality: just hang on, be patient, it's cool. Don't get your knickers in a twist," he added.
Last month, the financial company Prescient Acquisitions Group Inc. hit Jackson with a $48 million U.S. breach-of-contract lawsuit in U.S. District Court in Manhattan. The firm alleges the pop star owes it money for helping him secure the $537 million he needed to pay off a debt to the Bank of America.
Jackson bought the publishing rights to 250 Beatles songs in 1985 for $47.5 million after outbidding both Paul McCartney and Yoko Ono.
McCartney will make a tour stop at the Air Canada Centre in Toronto on October 10 to support his 20th LP, Chaos And Creation In The Back Yard
Here there and every where, There are places i remember, here comes the sun, ive got blisters on my fingers. Is a poop deck what i think it is?I'm a pices fish and a river runs through my soul, Canadian geese crap along the bank, "oh the rising son"....DOH!!
