Michael Jackson never "owned" the Beatles songs, what he purchased was the publishing rights to most of The Beatles catalog. The performance rights have always been held by the Beatles members or their estates.
The rights to the performances belong to Apple Corps, which is technically a partnership owned by McCartney, Starr, and the estates of Lennon (i.e., Ono) and Harrison (i.e., Olivia, his second wife). Those rights are licensed by Apple to EMI.
To maybe oversimplify a complicated business, publishing rights are basically the sheet music rights. There are a couple things the publisher can't do. The first is to mess with, or license the use of, Beatles recordings.
Here's a pretty good explanation on snopes:
http://www.snopes.com/music/artists/jackson.asp
As far as I know, the only reason the Beatles aren't available as downloads are because they (Apple music corp - not MJ) haven't come to agreement with any on-line source. Negotiations with Apple computer (i-tunes) have been ongoing for years. There was great speculation and anticipation that the Beatles catalog would be available last year.
So for now, the only way to legally purchase Beatles tunes is to buy the CDs. Thats fine with me as I like to hold something that I spend my money on, not a bunch of zeros and ones coming from my computer connection.
Rule No. 1 - If it sounds good - it is good!