Shame! Michael Jackson Catalog Stolen From Sony!

Michael Jackson transformed the art of the music video and paved the way for modern pop music. Now comes confirmation that computer hackers breached security and stole Jackson’s music.

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Sony Music  suffered its second major security breach in a year, with thieves targeting songs and unreleased material by the superstar singer. It’s alleged they downloaded more than 50,000 music files worth $253 million in the biggest ever cyber-attack on a music company. The news comes just a year after Sony paid $395 million for the seven-year rights to the songs following Michael’s death.

His total lifetime earnings from royalties on his solo recordings and music videos, revenue from concerts and endorsements have been estimated at US$500 million; some analysts have speculated that his music catalog holdings could be worth billions of dollars. Read the rest here.