January 20, 2017  

Michael Jackson's Estate Administrators Land 250 Million Dollars Deal

March 17, 2010 (2:38 am) GMT
The administrators of Michael Jackson's estate have signed the biggest recording contracts in history which is worth 250 million dollars with Sony.
Michael Jackson

is set to be just as big dead as he was alive, thanks to a staggering new Sony deal with the late pop star's estate. Nine months after the King of Pop's death, the administrators of his estate have signed one of the biggest recording contracts in history - giving Sony bosses full access to Jackson's back catalog and unreleased material.

The music executives plan to release 10 albums of Jackson material between now and 2017 - the length of the deal. The first album in the deal was in 2009 ""; the second release will be available in November and will feature a track Jackson wrote with for his "Invincible" album. The tune was axed because the King of Pop feared it was "too rocky", according to Kravitz.

The new Sony deal will guarantee the Jackson estate up to $250 million in advances. Confirming the deal, Columbia/Epic Label Group chairman Rob Stringer, who spearheaded the deal with the Jackson estate, says, "It's not just a record deal. We're not just basing this on how many CDs we sell or how many downloads. There are also audio rights for theater, movies, computer games ... You've got to bet on Michael Jackson."

More Michael Jackson News

TODAY'S HEADLINES

  1. Tarek El Moussa Addresses Rumors He Called Estranged Wife Christina a 'Whore'
  2. George Clooney Writes Touching Tribute to Cousin and 'NCIS: LA' Star Miguel Ferrer Who Dies at 61
  3. Little Mix Releases Sexy and Colorful Music Video for 'Touch'
  4. ABC Is Considering 'Black-ish' Spin-Off Starring Yara Shahidi
  5. Anne Hathaway to Join Rebel Wilson in 'Nasty Women'
  6. Everyone Loves Chrissy Teigen for Showing Off Her Stretch Marks in New Photo
  7. Mandy Moore Is Eager to Have Kids 'Sooner Than Later.' Ready to Start a Family?
  8. Ed Sheeran Wants to Collaborate With Beyonce, Plans Tour in March