Sir Paul McCartney is to finally own his magical Beatles songs once again having won back the rights to his tracks from Michael Jackson under the Copyright Act.
The veteran rocker lost ownership of the publishing rights to his songs to the late ‘Thriller’ star, when the former ‘King of Pop’ bought the band's famous music for a reported £31 million.
Sir Paul was left angered that former friend Michael Jackson, who the Beatles front man teamed up with for 1983 hit ‘Say Say Say’, outbid him to buy the back catalogue over 30 years ago, which included hits ‘Yesterday’ and ‘Let It Be’.
Macca worked with the former 'King of Pop' before things turned sour (WENN)
A source told The Sun newspaper: ''Paul's been fuming for decades. It's as much personal as business. Now he'll get back what's rightfully his.''
Sir Paul was also left disappointed when the rights to his music were not left to him in Jackson’s will following his tragic death in 2009.
But under the US Copyright Act, Sir Paul will be able to claim the titles and earn royalties and licensing money in five years time. The Act means songs written prior to 1978 turn into the property of the songwriter after 56 years, meaning the 71-year-old star will regain the majority of his hits by 2026.
No doubt the 60s hitmaker, who has a reported £680 million fortune already, will be looking forward to getting money for tracks he wrote with the Beatles.
Years ago, he complained at having to pay Michael royalties every time he wanted to perform a song: “The annoying thing is I have to pay to play some of my own songs. Each time I want to sing Hey Jude I have to pay.”
While it is unknown how much the back catalogue would be worth nowadays, in 2005, Sony paid Michael $95 million (£62million) for 50 per cent of the rights.
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