section_path: Song catalogue
section_name: Song catalogue
paragraph_text: Song catalogue
  
  Until 1969, the Beatles' catalogue was published almost exclusively by Northern Songs Ltd, a company formed in February 1963 by music publisher Dick James specifically for Lennon and McCartney, though it later acquired songs by other artists. The company was organised with James and his partner, Emmanuel Silver, owning a controlling interest, variously described as 51% or 50% plus one share. McCartney had 20%. Reports again vary concerning Lennon's portion – 19 or 20% – and Brian Epstein's – 9 or 10% – which he received in lieu of a 25% band management fee. In 1965, the company went public. Five million shares were created, of which the original principals retained 3.75 million. James and Silver each received 937,500 shares (18.75% of 5 million); Lennon and McCartney each received 750,000 shares (15%); and Epstein's management company, NEMS Enterprises, received 375,000 shares (7.5%). Of the 1.25 million shares put up for sale, Harrison and Starr each acquired 40,000. At the time of the stock offering, Lennon and McCartney renewed their three-year publishing contracts, binding them to Northern Songs until 1973.
  
  Harrison created Harrisongs to represent his Beatles compositions, but signed a three-year contract with Northern Songs that gave it the copyright to his work through March 1968, which included " Taxman " and " Within You Without You ". The songs on which Starr received co-writing credit before 1968, such as " What Goes On " and " Flying ", were also Northern Songs copyrights. Harrison did not renew his contract with Northern Songs when it ended, signing instead with Apple Publishing while retaining the copyright to his work from that point on. Harrison thus owned the rights to his later Beatles songs such as " While My Guitar Gently Weeps " and "Something". That year, as well, Starr created Startling Music, which holds the rights to his Beatles compositions, "Don't Pass Me By" and " Octopus's Garden ".
  
  In March 1969, James arranged to sell his and his partner's shares of Northern Songs to the British broadcasting company Associated Television (ATV), founded by impresario Lew Grade, without first informing the Beatles. The band then made a bid to gain a controlling interest by attempting to work out a deal with a consortium of London brokerage firms that had accumulated a 14% holding. The deal collapsed over the objections of Lennon, who declared, "I'm sick of being fucked about by men in suits sitting on their fat arses in the City." By the end of May, ATV had acquired a majority stake in Northern Songs, controlling nearly the entire Lennon–McCartney catalogue, as well as any future material until 1973. In frustration, Lennon and McCartney sold their shares to ATV in late October 1969.
  
  In 1981, financial losses by ATV's parent company, Associated Communications Corporation (ACC), led it to attempt to sell its music division. According to authors Brian Southall and Rupert Perry, Grade contacted McCartney, offering ATV Music and Northern Songs for $30 million. According to an account McCartney gave in 1995, he met with Grade and explained he was interested solely in the Northern Songs catalogue if Grade were ever willing to "separate off" that portion of ATV Music. Soon afterwards, Grade offered to sell him Northern Songs for £20 million, giving the ex-Beatle "a week or so" to decide. By McCartney's account, he and Ono countered with a £5 million bid that was rejected. According to reports at the time, Grade refused to separate Northern Songs and turned down an offer of £21–25 million from McCartney and Ono for Northern Songs. In 1982, ACC was acquired in a takeover by Australian business magnate Robert Holmes à Court for £60 million.
  
  In 1985, Michael Jackson purchased ATV for a reported $47.5 million. The acquisition gave him control over the publishing rights to more than 200 Beatles songs, as well as 40,000 other copyrights. In 1995, in a deal that earned him a reported $110 million, Jackson merged his music publishing business with Sony, creating a new company, Sony/ATV Music Publishing, in which he held a 50% stake. The merger made the new company, then valued at over half a billion dollars, the third-largest music publisher in the world. In 2016, Sony acquired Jackson's share of Sony/ATV from the Jackson estate for $750 million.
  
  Despite the lack of publishing rights to most of their songs, Lennon's estate and McCartney continue to receive their respective shares of the writers' royalties, which together are 33 1 ⁄ 3 % of total commercial proceeds in the US and which vary elsewhere around the world between 50 and 55%. Two of Lennon and McCartney's earliest songs – "Love Me Do" and "P.S. I Love You" – were published by an EMI subsidiary, Ardmore & Beechwood, before they signed with James. McCartney acquired their publishing rights from Ardmore in 1978, and they are the only two Beatles songs owned by McCartney's company MPL Communications. On 18 January 2017, McCartney filed a suit in the United States district court against Sony/ATV Music Publishing seeking to reclaim ownership of his share of the Lennon–McCartney song catalogue beginning in 2018. Under US copyright law, for works published before 1978 the author can reclaim copyrights assigned to a publisher after 56 years. McCartney and Sony agreed to a confidential settlement in June 2017.