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% 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