King of Pop’s Estate Signs Record-Breaking Deal
Wow, check this out! Michael Jackson once again proves just how influential he and his music really have been. Sony has just renewed it’s contract with “him” and his estate for a whopping $200 million. What would Michael say if he could see this?
Just three months shy of the 1st anniversary of Michael Jackson’s death, his estate has entered into a renewed partnership with Sony Music: a $200 million guaranteed contract with the record label calling for 10 projects to be released during the next seven years.
What’s more, the unheard-of contract, which gives Sony exclusive rights to new releases through 2017, could be worth up to $250 million if all aspects of the deal are kept. According to initial reports, the contract calls for at least one project to contain never-before-released Jackson recordings from his legendary vault of recorded, but unused material that could come out as early as November 2010.
With the exact wording of the contract unknown, speculation is the proposed 10 projects could include everything from a proposed Thriller-inspired video game, a music video compilation DVD or even a rerelease of his acclaimed Off The Wall cd, which was originally released back in 1979.
It seems Sony, in a show of good faith has generously included last year’s two-disc cd that coincided with the release of MJ’s final concert film, This Is It as part of the 10 projects. That audio release alone sold more than 5 million units. (Examiner)
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