Back in January, Paul McCartney revealed that he was suing Sony to reclaim the rights of the Beatles’ back catalogue.
In what had become a very messy affair, McCartney basically did not own the rights to the songs he wrote with John Lennon – mainly because Michael Jackson outbid him in the 1980s to buy a majority stake in ATV Music, who owned the publishing rights to some of their biggest songs.
Jackson’s estate later sold its stake in the company to Sony in 2016, but McCartney had been hoping to exploit a loophole which would mean he could reclaim the songs as his own in October 2018.
However, Sony weren’t going to give up without a fight and that’s when Macca was forced to bring a lawsuit against the company.
Now, it has been revealed that the matter has been settled out of court, with the Beatle’s lawyer issuing a statement yesterday which read: “”The parties have resolved this matter by entering into a confidential settlement agreement and jointly request that the Court enter the enclosed proposed order dismissing the above-referenced action without prejudice.”
The terms have not been revealed, but it seems that a game-changing case which may have had major implications on the industry and ownership laws has been avoided… for now.