Sir Paul McCartney is "devestated" that he won’t be able to claim back his ownership of the Beatles back catalogue following the death of Michael Jackson.
The former Beatle had hoped he would be able to buy the rights to some of his most famous songs back following Jackson’s death, but it has now emerged that the late singer sold nearly all of his rights to the songs.
Jackson outbid Macca and purchased the rights to the song’s in 1985 after the two had collaborated on two songs – The Girl Is Mine’ and ‘Say, Say, Say’ – but secretly sold them before his death to help alleviate his financial troubles.
A highly placed source at the Los Angeles HQ of Sony/ATV, the music publishing company which shares responsibility for the hits with Jackson’s estate, said Jackson had dispensed with all but five per cent of his remaining 25 per cent of the catalogue.
The news is likely to be a blow to Macca, who complained earlier this year: "The annoying thing is, I still have to pay to play some of my own songs. Each time I want to sing Hey Jude, I have to pay!”
