Michael Jackson and Sony's Sony/ATV Music Publishing has acquired Famous Music LLC from Viacom it was announced today (May 30).

Famous Music's catalogue includes over 125,000 songs, giving Sony/ATV ownership of classic songs like "That's Amore," "It Don't Mean a Thing (If It Aint Got That Swing)," and "Silver Bells," while contemporary hits like "Hips Don't Like" (Shakira), "The Real Slim Shady" and "Without Me" (Eminem) are also included in the purchase.

"This is a milestone event for Sony/ATV Music Publishing," Michael Jackson said in a statement. "The diverse collection of songs in this catalogue range from timeless classics to contemporary hits, and I am pleased to add the acquisition of Famous Music to Sony/ATV."

Famous Music also owns the musical catalogs of artists like Bjork, Duke Ellington, Bush, Boyz II Men, and Beck.

Current songwriters on the company's roster include Akon, Shakira, Busta Rhymes, Eminem, Nappy Roots, Linda Perry, Fred Jerkins III, 7Aurelius and others.

Famous' Extreme division also supplies high quality recordings and musical compositions for use in TV and radio advertisements, film and television productions, major network and cable broadcasts worldwide.

"The Famous Music catalogue is a world-class asset filled with evergreen songs that people know and love," added Martin N. Bandier, Chairman and CEO, Sony/ATV Music Publishing. "The depth and breadth of the catalogue is what truly makes it great, and I strongly believe that the addition of the Famous catalogue and its songwriters to Sony/ATV is another step in our long-range growth plans. In addition, we are pleased to be entering the production music business through Famous' Extreme division. Extreme's valuable creative team and unique business model will be a terrific complement to our core music publishing business."

Famous Music was founded in 1928 and is one the largest independent music publishers.

The purchase of Famous Music comes on the heels of Sony/ATV's acquisition of the legendary body of work published by Jerry Leiber and Mike Stoller, who wrote, arranged and produced hits like Elvis Presley's "Jailhouse Rock", " The Drifters' "On Broadway," Wilbert Harrison's "Kansas City" and the Clovers' "Love Potion No. 9," The Coasters' "Yakety Yak" and numerous other hits.

Sony/ATV Music Publishing was established in 1995 by Michael Jackson and Sony.

The company owns or administers over 500,000 copyrights, including works by The Beatles, Willie Nelson, Bob Dylan, The Everly Brothers, Hank Williams, Jimi Hendrix and numerous others.

Michael Jackson is far from broke.