Report: Michael Jackson Estate, Sony Agree on $ 200 Million Deal
Sony Music has won the rights to release songs of the late King of Pop Michael Jackson over the next seven years, a source told the Associated Press. According to the source, the deal is worth at least $ 200 million and would last until 2017. Part of the agreement is an album of never-before-released songs by Jackson, who died in June last year. The compilation is scheduled to be released in November. The source said the deal is expected to be officially announced on Tuesday.
Other projects planned as part of the deal, which may reach up to $ 250 million, is a re-release of Jackson’s “Off the Wall” album and a DVD video compilation. The two-disc album that was included in the “This is It” documentary is considered part of the deal, which would benefit Jackson’s estate.
The record deal is the biggest in the history of the music industry, proving that Michael Jackson’s music continues to be relevant even after his death.