Paul McCartney Signs $400 Million iTunes Deal For The Beatles Catalog

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Finally! Paul McCartney has signed a $400 million deal, which will see the Beatles catalog make its way to iTunes, at long last. UPDATE: While the UPI is a great source, and their story was written as fact, Sony/ATV, holders of much of the Beatles publishing rights, are throwing doubt on any of this being true. The UPI could have been had, too. Consider their source, the Daily Mail. And EMI, who we contacted directly, denies any news, either.

Though McCartney will probably make off with the lion's share of the cash sum, Ringo Starr and the families of the late John Lennon and George Harrison will also benefit. Michael Jackson, EMI and Sony will also be paid, as they each own a share in the back catalog. McCartney may actually have to pay out a little more on his divorce settlement because of the deal. How that works is anyone's guess, but you gotta feel sorry for him; having to share all those millions is just plain malicious. When the albums will actually hit iTunes is not yet confirmed, but we'll keep you up to speed with any banging of Maxwell's silver hammer. [United Press International]