Short answers, pulled from the story.
Michael Jackson purchased ATV Music for $47.5 million on the 10th of August 1985. The purchase was handled by his attorney John Branca and included not only the music copyrights but also buildings, a recording studio, and studio equipment.
McCartney was offered the first right of refusal on the ATV Music catalog but declined, with his attorney stating it was "too pricey." Yoko Ono was also contacted and chose not to bid. McCartney later said he attempted to negotiate improved royalty terms with Jackson after the purchase but was told, "That's just business, Paul."
Sony/ATV Music Publishing became the largest music publishing administrator in 2012 after leading a consortium that acquired EMI Music Publishing for around $2.2 billion, bringing its catalog to over three million songs. Subsequent acquisitions of the Jackson estate's stakes in both EMI and Sony/ATV gave Sony full ownership, and the library grew to over six million songs by the end of March 2025.
Sony and Michael Jackson formed Sony/ATV Music Publishing in 1995. Sony offered Jackson $110 million for a 50% stake in a combined venture merging ATV Music with Sony's existing publishing operation, and Jackson sealed the deal during a concert in Tokyo.
"Penny Lane" was the only Beatles song in the Northern Songs catalog excluded from the sale. Robert Holmes a Court had gifted its rights to his then-teenage daughter Catherine before the sale because it was her favorite Beatles song.
In January 2017, McCartney filed suit in United States district court against Sony/ATV Music Publishing, seeking to reclaim his share of the Lennon-McCartney catalog beginning in 2018 under a US copyright law provision allowing authors to reclaim assigned rights after 56 years. McCartney and Sony reached a confidential settlement in June 2017.