It's been almost seven years since the death of Michael Jackson, and reports of the "savvy" Estate bringing the stars posthumous career back to life have flanked the news, articles and internet. The Estate of Michael Jackson has gallantly stepped into the spotlight to "wipe out" the "ton" of debt Michael Jackson, the star who died of an "overdose", had managed to accumulate during his lifetime.
It would be hard to believe that the most beloved star in the world would have had so much debt when so many people around him were still looking to him to profit just before his death. It seems that even the reports about the "savvy" Estate are fickle. One report will tell you how all of the debt has been cleared away, of course, thanks to the Michael Jackson Estate. While others will tell you that the Estate had to sell Jackson's half of the Sony/ATV catalog back to Sony because:
Lastly, quoting from the article:
And then quoting from me:
It's almost like they "knew he was going to die"
It would be hard to believe that the most beloved star in the world would have had so much debt when so many people around him were still looking to him to profit just before his death. It seems that even the reports about the "savvy" Estate are fickle. One report will tell you how all of the debt has been cleared away, of course, thanks to the Michael Jackson Estate. While others will tell you that the Estate had to sell Jackson's half of the Sony/ATV catalog back to Sony because:
"Selling the stake in Sony/ATV would let the Jackson estate clear a mountain of debt accumulated by the late King of Pop before his death in 2009"
These reports are more than fickle, they are discriminatory. When all these reports come from the same sources, we can bet they are made to make the Estate look like the "good" guys. The reports and comments themselves are coming from none other than the Estate themselves.
It is clarified by the quotes and people who have been quoted. Just yesterday Bloomberg reported the above quote, while another article published the same day by Billboard claims:
"Executors John Branca and John McClain have overseen a remarkable turnaround, wiping out Jackson's debt and making enough revenue to generate about $100 million in tax payments already."
It seems the hearsay comments made about the financial affairs of the Estate of Michael Jackson are just that: hearsay. No reporter has been in the books to my knowledge and if these statements have been made by the Estate itself it would appear to me that they are telling the public whatever they feel will put them in the best light at the time.
This shouldn't be any surprise. In recent years it was the Estate of Michael Jackson that documented paying thousands of dollars to companies to get the "bad" press off the internet. Matter of fact, if you're following the news you might want to take a copy of the articles I refer to for your files. Any article that has been mentioned here or in the news about the Estate, AEG, or Tohme Tohme, has put them together or in a bad light has conveniently disappeared off the face of the net. Even the trial videos for Conrad Murray's case have been tampered with in several YouTube accounts. Footage has gone missing and some transcripts can no longer be found. Companies, Estates and people can't spin a web of illusion when the real evidence is out there.
One of the most recent articles regarding the Estate of Michael Jackson, says the Estate is claiming Michael Jackson was only worth $2,105 at his death. Of course that's because the article is citing an IRS investigation into Jackson's worth and unpaid taxes by the Estate itself. In this instance it would serve the Estate to put the worth of Michael Jackson much lower. Although the facts would lead us to believe other wise. It was stated in the Michael Jackson Estate v Tohme Tohme cross complaint that Tohme Tohme himself was collecting thousands of dollars monthly just from royalties Michael Jackson was being paid for his catalogs.
It was this same catalog, Sony/ATV, that Jackson claimed he would be killed for. Ironically, or not, the catalog and all other assets were named in the Michael Jackson/AEG contract for the This is It performances. The property used to secure advancements made to the company Tohme Tohme was controlling, The Michael Jackson Company LLC, included Jackson’s Sony/ATV music catalog.
It is ironic, or not, that the Estate is now selling the catalog back to Sony for thousands of dollars under it's actual worth. When we read comments like this from Howard Weitzman, the Estate's attorney, on their current IRS plight we might gain a better insight as to why:
"Michael Jackson had no merchandising deals then," says Weitzman. "Only after we began the resurrection and This Is It did things begin to change. The IRS says, 'You should have known about the documentary.' That's like [saying] we should have known he was going to die."
Now that the IRS is involved the Estate has it's sights on making the Estate look like it's worth less than it actually is. It works for them. Not only that, but the blanket statements made by Weitzman are entirely untrue, and he knows it. Jackson did have merchandising deals through AEG and they did know about the documentary. And yes, I'll go as far as saying they did know he was going to die.
When you plan a conspiracy to murder someone you tend to know they're going to die.
Budgeting a convicted doctor for only two months before a year's long tour and taking out an insurance policy naming Tohme Tohme, his former manager on the policy, while dropping cancellation insurance makes it all too clear. Add the fact that it was Randy Phillips of AEG himself who brought Branca, one of the Estate's executors, back into the fold just before Jackson's death and I do believe we have a conspiracy on our hands. It was the Estate of Michael Jackson, Howard Weitzman, that filed for concealing the records during the AEG trial and the Conrad Murray trial. That included the insurance policy AND the contract with AEG.
Weitzman is all too familiar with the real story. He was the attorney that handled the suit involving AEG and the Lloyds of London insurance company. If you recall, it was the Estate of Michael Jackson who settled that suit - "under wraps" of course. All the while claiming how the family would benefit.
As for the documentary, the film was referenced in an email as early as January, 2009. Rights to the film footage were claimed mere days after Jackson's death. It was Randy Phillips of AEG, who boasted it was that film footage they so wisely shot from the beginning of rehearsals that made them the fortune they were seeking. All the while stating in court that the footage was for Jackson's personal use.
Below is a copy of the email referencing the film in January, 2009. This email was dated just days before the This is It contract was signed with AEG. It was copied to Michael Jackson's former attorney, Peter Lopez. Peter was ousted at the inception of the deal and control was taken over by AEG, Tohme, and as you'll see on the email, another attorney named Dennis Hawk.
In the "Attachments" section of the header you'll see the red boxed portion that reads: "Feature Film Development Agreement." You'll also note the legal council for AEG, Kathie Jorrie, is telling her client to check Tohme Tohme out and to make sure Michael Jackson knows what he's entering into. A separate contract was signed between Tohme and AEG that is also noted in the attachments as "TT International". Finally on the bottom of the document you'll see the word "DILEO". It looks as if this document was not provided to council during trial. It looks to me as if it was taken from Frank DiLeo's files to be used as an exhibit in the Katherine Jackson v AEG trial.
This isn't the first time AEG omitted evidence. Lloyds of London Insurance Company also requested documents from AEG that were not given. It wasn't until the "concealed" emails that were kept under seal by the California courts made their way out into the public that AEG decided to drop their part in the suit with the insurer. Lloyds continued the suit with the Michael Jackson Estate even though Lloyds contended that AEG was trying to assign their rights to the Estate. That settlement is also "under seal". We should note here that testimony in the AEG v Katherine Jackson trial depicted a "similar interest" for both The Michael Jackson Company and AEG Live in acquiring insurance.
Copyrights for the film footage taken were acquired and recorded by AEG Live as of July 2, 2009. If there were no plans for a film, there certainly was a lot of footage as well as an extremely well planned execution to acquire rights. Jackson died on a Thursday. Rights were already acquired by the following Thursday, noting the "motion picture".
Of course Weitzman would know this since the Estate of Michael Jackson, who was not even named as the executors yet, had already met with both Tohme Tohme and Randy Phillips of AEG the Sunday after Michael died to secure the deal. I believe Phillips was quoted as saying "Michael's death is a tragedy, but life must go on. AEG will make a fortune in merchandise sales, ticket retention, the touring exhibition and the film/DVD."
Below is a copy of an article written in 2009, now of course taken off the internet, that references the fortune maker "merchandise" AEG acquired rights to on behalf of Michael Jackson:
According the article produced by Billboard, "The IRS insists Jackson's name and image were worth more than $434 million. His estate says only $2,105", Weitzman is reporting that Michael Jackson was worth $2,105 before he died. The numbers keep going down according to the story or the motive. Up, if you want to make the Estate look good. Just look at all they've done. I can certainly name a few things that haven't been mentioned in the papers.
Maybe they should make up their minds when Weitzman states "Only after WE began the resurrection and This Is It did things begin to change." Who exactly is "WE"? Would that be Howard Weitzman, John Branca, John McClain, Randy Phillips and Tohme Tohme? That sounds about right to me. If that's not self incriminating I don't know what is.
And why didn't the King of Pop earn licensing money in the years before his death? According to the article we should "See: charges of child molestation, rumors of drug use and no tours back then. In fact, when he died of an overdose, he was preparing for a "comeback" tour. It's enough to take a wonky tax case into sensational territory."
I do believe the IRS deals with facts and figures, not accusations, as should the public. There were charges of child molestation, a lot of press (similar to the press now), and a verdict of not guilty on all counts. We should be aware of the things written in the press and the things written on paper.
For instance. the child molestation charges were brought on in Los Angeles County. The same county that tried Conrad Murray for Michael Jackson's death. It was this same county that is reported as taking "bribes", although that fact is obviously not in main stream media.
It was this same county that hid the autopsy reports, the insurance policy and the fire department reports during the trial for Conrad Murray. If there are still fans out there wondering why Jackson attorney Brian Oxman announced he received a call that Michael Jackson was taken to the hospital around noon when the paramedics weren't even called until 12:26 that day, this might give you some insight. According to Conrad Murray's "real" phone records (the records they produced during trial were charts) Murray was on the phone with someone else at the time the supposed 911 call came through from... the Beverly Hills Hotel, not Jackson's rented home. I suppose that's why they wanted the fire department records "concealed". But let's not go on about all the evidence the LA courts falsified. Because it was shortly after the first molestation reports (1993) in the news surfaced and after Jackson settled through his insurance company instead of going to court, when he agreed to merge ATV Music Publishing with Sony Music Publishing. Just like a miracle the reports dropped.
Yet again when Michael spoke out about Sony in 2002, shortly after new child molestation accounts surfaced. This time Jackson went to trial, and was acquitted on all charges.
There is a direct correlation between what's reported in the news and what certain people want you to believe. If Sony did want to acquire the ATV catalog as stated by Jackson himself before his death, ruining the public opinion of Jackson would certainly be one way to do it.
Reporters should be careful when they say Michael Jackson died of an overdose and when they site "rumors". If Billboard reports on rumors what do we need the tabloids for? An overdose would imply that Michael Jackson took drugs and he overdosed on them and that killed him. Referring to actual evidence, the stuff that's in black and white, Jackson's autopsy report clearly states "Homicide". If this reporter, Eriq Gardner from Billboard, wants to talk about sensationalism he hit it right on the spot. He's writing the sensational stories being fed to him by the Estate. The IRS deals with facts and figures Gardner, not "rumors".
original article: http://www.billboard.com/articles/news/7340741/michael-jackson-estate-tax-court-battle-irs
More about the Estate of Michael Jackson:
The estate said a trust that holds interest from some of Jackson's music and most of the Beatles catalog was worth $0
According to legal documents obtained by the L.A. Times, the executors of Michael Jackson's estate valued the singers net worth at $7 million after he died in June 2009 (that was reported in 2014 - Billboard now reports his net worth at $2,105 according to the Estate)
Much of Michael Jackson's memorabilia was sold at auction following his death, injecting millions into his estate - does this include the items auctioned off by Tohme Tohme?
Jackson's return was so inaccurate, the IRS said, that it qualified for a gross valuation misstatement penalty, which would allow the government to double the usual 20 per cent penalty for underpayment.
Most of the IRS dispute is centered around the value of Jackson's image, such as branded T-shirts, merchandise and using his likeness in television commercials (let's not forget the movies)
The estate valued Jackson's likeness at just $2,105; That must be why they went out of their way to sue so many people for using his likeness. If it was only worth $2,105 why bother? (Sorry, I forgot they have to collect on their attorney fees.) The IRS estimated Jackson's likeness at $434.264 million.
The estate put the value of the pop star's interest in the trust that owns the Beatles' and Jackson's songs at zero. The IRS put it at $469 million. Yet the Estate just negotiated to sell the catalog for $750 million. A few years ago it was worth 2.2 billion. Who's zoomin who here?
Today the Neverland ranch is owned by the Estate of Michael Jackson, with Colony Capital LLC maintaining a 12.5% undivided stake in the property Contents
The IRS also said Jackson's interest in another trust was worth $60.6 million, not $2.2 million, as the estate claimed.
Tax court documents show that Jackson had three Rolls-Royces and a 2001 Bentley Arnage that the IRS said were worth $250,000, not the $91,600 the estate placed on them
The IRS also found other automobiles, saying that 'tangible personal property including vehicles not reported otherwise' were worth $47.467 million, instead of the $0 the estate reported
The article sited below shows a Michael Jackson fan holding memorabilia outside of the Forest Lawn Mortuary in Los Angeles on July 6, 2009. If Jackson had no merchandising interests as of his death on June 25, 2009, my how they transpired quickly!
Lastly, quoting from the article:
"The Jackson estate would like have argued that, before he died, the singer had neither toured nor released a CD for several years, and his public image had been severely damaged by allegations of child molestation.
This would have had a major effect on endorsement deals and whether companies would have wanted to be aligned with the Jackson brand."
And then quoting from me:
"There is a direct correlation between what's reported in the news and what certain people want you to believe. If Sony did want to acquire the ATV catalog as stated by Jackson himself before his death, ruining the public opinion of Jackson would certainly be one way to do it."
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