JACKO"S ESTATE SIGNS RECORD-BREAKING DEAL

Jacko's Estate Signs Record-Breaking Deal

9:13am UK, Tuesday March 16, 2010

Pete Norman, Sky News Online

The late King of Pop's estate has signed an unprecedented seven-year deal with Sony that is estimated to be worth more than $200m.


Michael Jackson's music sales have soared since his death


The deal involving as many as 10 new Jackson projects may include computer video games as well as music and film releases.

"We and Sony feel that the future for Michael Jackson is unlimited," said John Branca, a special administrator for the estate.

Since the singer's death on June 25 last year, Sony has sold around 31 million albums worldwide, and the company wants to expand the Jackson brand into other areas.

"The audio rights span across different projects," said Rob Stringer, chairman of Sony's US label Columbia Epic.

"There may be theatre. There may be films and movies. There may be computer games - or multimedia platforms that I don't know about today that will happen in 2015."

The deal, described by Sony and Jackson's estate as the most lucrative music contract on record, would guarantee the late singer's heirs at least $200m (£139m), according to the Wall Street Journal.

Jackson's estate, by the first anniversary of his death, is expected to have made $250m (£166m) from the sale of music, mechandise and tickets to the posthumous concert movie, This Is It.

The 50-year-old died at his rented mansion in Los Angeles after an overdose of powerful prescription drugs, as he was preparing to perform a series of comeback concerts in London.

The star's private doctor, Conrad Murray, pleaded not guilty last month to involuntary manslaughter in connection with the sudden death, but has admitted administering the drugs to the singer.

If his children benefit from this, having lived the lifestyle they had to, then that's fine. Trouble is, there are going to be so many more money grabbers hanging on.

Hii Chrissie,

Michael owed millions to his Creditors so that will have to be Paid first although I should imagine the sale of his records and CD"s just after he died would have made £millions. I Think although his Mother was the preffered choice to care for his children , the Executors of his Will would be in charge of the
Finance and the children would be protected. His Music will always sell I"m sure. I don"t know what happened to his House and Never Never land. That
must be worth a Fortune.