VENTURE CAPITAL POST

The Michael Jackson estate lost its share in the joint venture with Sony Corp. when the music publisher bought Jackson’s share of 50 percent for $750 million. The transaction will wipe out the rest of Jackson’s $500 million debt he left when the artist died in 2009.

Sony will pay $750 million to the Michael Jackson estate for its share in the music catalog. Once the deal is closed, the estate will be no longer in debt.

Concert promoter AEG Live was not responsible for Michael Jackson's death, the jury ruled.