Excellent question, John. I can answer this one with two words: Paul McCartney. If unfamiliar with the backstory, Paul McCartney was once a member of a little band called the Beatles and in one five-year period happened to write dozens of the best selling, most beloved songs of the 1960's with his songwriting partner, John Lennon. Unfortunately, the publishing industry was (and most likely still is) a shady business and the two young, naive Liverpudlians were swindled out of millions of ducets by an unscrupulous publisher who signed the boys to a lousy publishing deal that netted them pennies on the dollar earned by their songwriting talents.
Don't get me wrong, the Beatles did fine, money wise and although Lennon and McCartney most likely grumbled about the deal, they did so in the comfort of their Rolls Royces and Bentleys. Lennon was killed in 1980 and a few years later, the chance came for McCartney to buy the rights to the entire Lennon/McCartney songwriting catalogue from the Beatle years. It had always been a sore point with Macca that he didn't own the rights to the songs, not even "Yesterday", which had long been one of the most beloved songs and a personal favorite of the author. Now was his chance to pounce. Already one of the richest musicians in the known universe, his Beatle catalog would not only have eased his long-simmering resentment, but it would have most certainly padded his fine Corinthian pocketbook as well.
Then he spoke with Yoko.
Yoko Ono was the wife of his late songwriting partner and Macca, being English and polite, went to Yoko to tell her of his intention to purchase the rights to the songs he had written with her husband. They made plans to do so together, which was only fair, I suppose, even though John was dead and Yoko contributed nothing to the band but alienation. Yoko suggested they wait until she could confer with some of her advisers, bankers or palm readers - I am unclear on this - to see if perhaps they could get a better deal - after all, who buys retail?
So, they waited.
Paul had recently had the pleasure of writing and recording and making music videos with Michael Jackson, who was probably the biggest star on the planet at the time. When asked about how he should invest his new-found star-money, McCartney advised young Michael to stick with what he knew - music. Using himself as an example, having years earlier bought the rights to Buddy Holly's music, he told Jackson to get into the music publishing business and start buying song catalogues.
So, while Paul and Yoko waited, Michael Jackson bought the rights to the Beatles' music library.
Now, Jackson is also dead, the songs are now mostly owned by a huge Japanese conglomerate, Paul still simmers, and Yoko lives on.
Do all good things come to those who wait? Ask Paul McCartney.
Good day, Sir.
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