Jackson sells part Beatles rights

Cash strapped Michael Jackson is being forced to sell off part of his catalogue of Beatles songs to keep from being bankrupted. Jackson out bid former Beatle Sir Paul McCartney in 1985 and bought the rights for £24m.

However, entertainment giant Sony are ready to claim back as much of the catalogue as payback for a financial fix the star agreed to last year. Sony co-own the Beatles rights with Jackson, which are estimated to be valued between £250m and £400m.

Jackson is currently facing yet more huge financial bills that include a load of £10m that is due payment in October, and a £14m writ from a finance firm.

Sure looks like Michael’s hard times are far from over.