Sir Paul puts Beatles £200m back catalogue online to pay for his costly divorce

The rumor-mill has been buzzing for years about the remastered back catalog of The Beatles.  It is ramping up yet agai, as Paul McCartney closes out another chapter in his life with the dissolution of his marriage to Heather Mills.  It seems he has to pay her.  Quite a bit.  It’s not like that is such a huge problem for the British billionaire, but some extra income certainly wouldn’t hurt.

The speculated delivery of the remastered Beatles catalog comes following last year’s settlements between Apple records and Apple computers.  They have come to some form of agreement, and seeming partnership.  Hopefully, someday soon we will see the remastered Beatle catalog.  I really don’t care what format it comes in at this point.  I’m still a CD, vinyl guy.  I hope it is not limited to download only.  I think they would be missing the point, and missing the boat by releasing it that way.  I could see download only bonus tracks (i.e. Now and Then, bootlegs, outtakes, etc.), and I think I’d be comfortable with that.

The issues that I have with the proposed releases, as we all sit and speculate, is that they give us what we want.  We want mono and stereo.  We want expanded editions.  We want some outtakes.  Apple, please handle this one with care.  It’s part of our fabric.  It’s part of our culture, and in large ways this music defines us.  We just want to see it done right.  Your money will pout in no matter what configurations these  albums come in, but please do this right for us.

We will keep you posted on more back catalog speculation as we hear it.  Good we love these rumor mills.

Here’s what we’ve read.

Sir Paul McCartney is to release the Beatles back catalogue online – helping pay for his multi-million-pound divorce from Heather Mills.

The singles and albums will be made available on iTunes in the coming months following the final divorce hearing, due to take place at the High Court in 10 days.

Ms Mills, 40, is expected to receive between £20 million and £30 million in a cash settlement following four years of marriage to McCartney, 65.

The sale of Beatles records online will be a huge windfall for Sir Paul, Ringo Starr and the families of John Lennon and George Harrison.

Containing albums such as Sergeant Pepper’s Lonely Hearts Club Band, the White Album and Help!, it will be by far the most prized music catalogue released via the internet, worth up to £200 million, according to some estimates.

It is expected to dominate the download charts for many months.This could lift Ms Mills’s expectation of the divorce settlement to beyond £30 million, on the basis that Sir Paul’s future income should be taken into account.

It raises the prospect she could appeal if she feels the judge has not considered the online deal properly.

The catalogue’s online release has been hampered by legal wrangles that have now been settled. The divorce is thought to be the final obstacle.

A source close to the musician told the Evening Standard today: “I reckon the Beatles catalogue will go on this year.”

In a recent interview with Billboard magazine, McCartney said: “It’s all happening soon.

“The whole thing is primed, ready to go – there’s maybe one little sticking point left and I think it’s being cleared up as we speak so it shouldn’t be too long.”

McCartney’s solo catalogue has been available for download since last May but the Beatles’ recordings will be far more valuable.

The bitter divorce was played out over six days behind closed doors last month. Sir Paul’s legal and professional expenses alone are likely to cost about £5 million.

His lawyers are understood to have argued in court that he is worth a lot less than the £825 million that has been suggested.

Ms Mills, a former model who has represented herself in court, argued he was worth much more than that.

Mr Justice Bennett’s judgment on 17 March – expected to be made public at least in part – is likely to take into account McCartney’s earnings during their four year marriage but also his future income, which will be hugely inflated by the deal with iTunes, owned by Apple Computers.

The download agreement followed the settling of a court case last year between Apple Corps, a company formed by the Beatles to protect its music, and Apple Computers.

A further dispute between Apple Corps and the Beatles’ original record label EMI over royalty payments was also settled last year, paving the way for the download of all the Beatles’ records.

Source: UK Daily Mail