現場拍賣 3135Pop Culture: Rock and Pop Memorabilia
Michael Jackson The Beatles
拍品 69

Michael Jackson The Beatles

已結束2011年11月15日

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GBP 6,250

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Michael Jackson The Beatles
An authorised reproduction of official documents, bound in three volumes, outlining the terms for Michael Jackson's Chemical Bank Loan, designed for the acquisition of The Beatles' back catalogue, each volume's spine embossed in silver Chemical Bank Term Loan To Michael Jackson In Connection With The Acquisition of Northern Songs Limited, ATV Music Limited and Certain Affiliated Corporations Jerome S. Smith, all dated September 4, 1985, and individually numbered; comprising ninety-seven separate documents concerning Jackson's representatives and Chemical Bank discussions, to include: 'Pledge Agreements', 'Guaranties', 'Security Agreements' , 'Mortgage and Security Agreements', 'Assignment for Security' [Song Catalogue inventory], 'Power of Attorney', 'Deposit Relating To Shares', 'The Agreement', 'Assignment of Debt', 'Closing Documents', amongst other legal papers outlining the negotiated costings, the catalogue content [song titles] and overall implications of the loan being negotiated to acquire the music catalogue - all 9x11¼x3.5in. (23x28.5x9cm.); accompanied by a letter concerning provenance from the Vice President of Chemical Bank, New York during the time of the loan (4)

專家說明

'Northern Songs' was a company founded in 1963 holding primarily the publishing rights to the majority of songs attributed to 'Lennon & McCartney', 'George Harrison' and 'Ringo Starr'. In 1968, unbeknown to The Beatles the major shareholder [Dick James] sold his shares to 'ATV Music Publishing' [Lew Grade]. The Beatles were unable to do anything to prevent this. ATV was subsequently sold to an Australian Industrialist, Robert Holmes a Court, in the early 1980s, and eyeing a fast profit he almost immediately put the catalog(s) up for sale. Coincidentally, at approximately the same time, Paul McCartney had been advising Michael Jackson, during their musical collaboration, of the financial value in investing in music publishing. Even though McCartney and Yoko Ono were offered the opportunity to purchase the archive, Jackson would become the new owner, after negotiating this complicated loan agreement with Chemical Bank [later to be JP Morgan/Chase], which, although for an extraordinary large sum of money, was deemed by the bank to be of high quality with little risk, given the value of the catalog and the value of the borrower.