In the 50 days since the King of Pop passed, a $100 million movie deal is already coming down the pipeline. And earlier this week, an LA judge allowed estate managers Branca and McClain to start an explosive memorabilia campaign that will sell Jackson trinkets to adoring fans everywhere.

The New York Times summarizes the great reversal in fortunes:

It has been 48 days since Michael Jackson died, and while family members of the late pop star are still at war with the executors of his estate, the answer to another question — how much the singer is worth in death — is becoming clear. He has already earned $100 million through a film deal and various merchandising contracts, and the executors expect another $100 million to roll in by the end of the year.

“Clearly that’s a new record for estates that likely will not be broken,” said John G. Branca, Mr. Jackson’s longtime lawyer who was named in Mr. Jackson’s will as a co-executor of the estate, along with John McClain, a music executive and Jackson family friend.

While several business deals have been reached — for things like commemorative coins, a line of school supplies and a $150 coffee table book — the matter of untangling Mr. Jackson’s vast estate, assets and debt, goes on, as does wrangling with family members.

The Jacksons estimate that Michael’s estate may end up bigger than any other celebrity, including Elvis Presley. Considering how popular Michael’s music continues to be on the Billboard charts, we think this is a pretty safe thing to bet on!

The new documents in the Michael Jackson estate case show the special administrators of the estate expect to haul in money in the “high eight figures” for merchandising and other Jackson-related stuff.

The docs mention the $5.5 million the special administrators already collected from Dr. Tohme Tohme. In addition, the administrators have collected “millions of dollars of tangible personal property throughout the country, including memorabilia and art.”

The docs say the special administrators are deep in negotiations to market all things Jackson.

(TMZ)

Michael Jackson hired the doctor in May, at a reported $150,000 a month, in order to monitor the pop star’s health during the grueling 50-stop concert series that was planned this summer. We guess he was hoping the big, fat paychecks would help him clear out his debts . But with Jackson gone, what’s Conrad gonna do now?

From MSNBC:

Dr. Conrad Murray needed a big payday when he became Michael Jackson’s personal physician last spring.The Las Vegas cardiologist owed at least $780,000 for settlements against his business, outstanding mortgage payments on his house, delinquent student loans, child support and credit cards. And that doesn’t include the $68,000 the distributor of an energy drink says Murray, a one-time business associate, owes for skipping out on payments.

Court records chronicling Murray’s woes in Las Vegas, where authorities searched his home this week as part of their manslaughter investigation into Jackson’s death, help explain why — beyond basking in a celebrity’s aura — Murray might have jumped at the $150,000-a-month Jackson’s promoter was prepared to pay him to keep the star healthy through a series of concerts in London.

If Joe got snubbed, who got named in the will? Reports indicate that Jackson’s three children and his mother Katherine Jackson were included in the will. Read more here:

The question of whether Michael Jackson had a valid will at the time of his death just got a little more complicated.

Yesterday, parents Joe and Katherine Jackson sought control of Michael’s estate, claiming in court documents that the King of Pop died without a will. Hours later, one drafted in 2002 surfaced.

According to the Wall Street Journal, the document—which will no doubt be the centerpiece of a lengthy and ferocious legal battle in months to come—divides the superstar’s estate among his mother, his three children (Prince Michael, Paris and Prince Michael II) and at least one charity.

It’s unclear what custody arrangements, if any, Jackson made for his three children. But a court ruling yesterday gave temporary guardianship to Katherine.

At least one aspect of the will does appear to be clear: Joe Jackson wasn’t named as an heir.

The will, drafted by Jackson’s longtime attorney John Branca, may be filed in probate court as early as Thursday.

(AP Photo)

assumed the pop star had a fortune that he could pass down to his family. The story’s never simple with Jackson, though. Reuter reports today that the late singer left behind “a mountain of debt,” built up by shopping spree habits and legal fees.

Along with a vast musical legacy and legions of adoring fans, pop superstar Michael Jackson leaves behind a mountain of debt and an unfulfilled comeback many hoped would rake in millions and erase his financial troubles.The King of Pop died suddenly on Thursday at the age of 50, after a career spanning 40 years that included the biggest-selling pop album of all time, “Thriller.”

Despite taking in hundreds of millions of dollars as one of the most successful pop musicians of all time, Jackson racked up about $500 million of debt, according to sources cited by The Wall Street Journal earlier this month.

The story continues over on Reuters.