Thursday, May 26, 2005

The new owners of Liberty Group Publishing, which includes The Carthage Press, the Neosho Daily News, and The Big Nickel, have worked out a deal with troubled pop singer Michael Jackson to help him with his financial difficulties.
Associated Press reports that Fortress Investment, which bought Liberty Group Publishing for $550 million last month, has worked out an arrangement with Jackson that will give him "greater financial strength and flexibility," according to the article.
Fortress recently bought Jackson's considerable debt from Bank of America. Jackson put up the ownership of the rights to his own music and the rights to the Beatles' music as collateral on his loans.
Though no details of the arrangement were mentioned in the article, both sides said Jackson was never in danger of having to sell his Neverland home, which had been widely rumored.

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