Quick licensing info. It's a little confusing so stick with me.
In the music industry there is a difference between a song and a master. A song is the words and lyrics, and the master is a recording by a particular artist of a song.
Publishing rights give you the authority to allow people to record a song, and master recording rights give you the authority to distribute particular recordings of a song (distribution is selling the recordings-CDs, records, mp3 files, etc).
What Michael Jackson owns is the publishing rights to songs written by various songwriters including John Lennon and Paul McCartney. He doesn't own the master of the Beatles recording of a song.
For example let's take Hey Jude.
MJ can grant a license to Molly Wood (of CNET Records) to record Hey Jude. When Molly records it, CNET Records would own the master of Molly's Hey Jude version so they control the distribution rights of her version.
So Michael Jackson cannot distribute recordings of Beatle songs, because he doesn't own them (Green) Apple Corp does. However, he will get paid anytime a master recording of a song he owns is sold. So whether it's Hey Jude by the Beatles, or Molly Wood, or Umpa Lumpa he will collect a fee.