Thursday, March 18, 2010

Michael Jackson Estate Signs Record Deal

Even after his death, Michael Jackson is still breaking new records. The King of Pop's estate has signed the biggest recording deal in history: a $200 million guaranteed contract with Sony Music Entertainment for 10 projects over seven years. This record-breaking contract through 2017 could possibly be worth even more if certain conditions are met.

Projects being considered include a new album of never before released MJ hits, a video game, a DVD compilation of videos and a rerelease of Off the Wall, Jackson's fifth album. One of the projects already completed is the film based on footage of concert rehearsals for Jackson's big comeback, This Is It.

"We're dedicated to protecting this icon's legacy and we're thrilled that we can continue to bring his music to the world for the foreseeable future," said Rob Stringer, chairman of Sony Music's Columbia Epic Label Group.

The money will go a long way toward settling Jackson's debts, estimated around $400 million when he died. But the singer whose life was plagued with scandal has had a resurgence in popularity in death.

1 comment:

Vanessa said...

I have a feeling that this deal could go past 2017; MJ is pretty much going to be the King of Pop for a long time to come.