Michael Jackson Can't Afford the Beatles

Here's some back story: In 1985, Michael Jackson outbidded Paul McCartney for the publishing rights for the Beatles' back catalogue (over 200 Lennon-McCartney's songs). So that means that MJ got a huge cut of the licensing money for that nifty, catchy Target commercial (hello, good buy, hello, good buy)... america is fucked up. yes.

Anyway, NME just reported that MJ may lose his share of the publishing because he's been livin' it up (LARGE) and nobody's paying the bills. He allegedly owes $241 Million to Sony. Yikes!

He bought the rights to the catalogue for $48M and it's worth approximately $500M today. According to this article, MJ hopes to pay off $150M with the sale of catalogue.

Hrm... that Jackson 5 Reunion that's supposed to earn him $250M all makes sense now!