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Hackers have stolen the entire back catalogue of the late, great Michael Jackson. This is the second major financial hit for Sony this year, after the thieves targeted songs that were owned and created by Jackson before his death
The group allegedly downloaded 50,000 music files worth about a quarter of a billion dollars. Sony recently paid over $400 million for the seven year rights to songs after Jackson’s death. According to the contract, Sony is allowed to release 10 new albums, including material from studio sessions.
The hack was unearthed when the company monitored social networking sites to find that people had stolen the files and were giving them away.
“Everything Sony purchased from the Michael Jackson estate was compromised,” said an inside source. “It caused them to check their systems and they found the breach. There was a degree of sophistication.”