The Sly and the Family Stone bandleader sealed the deal ahead of his 1976 U.S. Copyright Act reversion rights taking effect
“Sly and the Family Stone were a force for enlightenment and positive change, a message that Michael believed in," said, co-executors of the Estate, in a statement. "He recognized Stewart’s genius and the power of his words and music which is why he first acquired the catalog and why we at MIJAC follow in Michael’s footsteps today."
The law provides a window to file for termination beginning 10 years before to up to three years after the song was issued. In 2017, Stewart began that process by filing termination notices for about 100 songs owned by MIJAC. That means he could have otherwise regained the publishing rights after that 56 year period passed on each song and have been entitled to write new licenses and collect publishing royalties on those songs.
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