Michael Jackson's estate goes for $250 million

By Greg Goodsell
3/16/2010
Catholic Online (www.catholic.org)

Sony contract breaks records

The heirs of late pop singer Michael Jackson, who died in June of last year from a drug overdose will be well taken care of. The singer's estate has been bought by Sony for $250 million.

In the week following his death, Michael Jackson had the three best-selling albums in the U.S. New sales of 'Thriller' pushed it into a tie with the Eagles� 'Their Greatest Hits (1971-1975)' for the best-selling album of all time.

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LOS ANGELES, CA (Catholic Online) � The contract for the singer's estate has broken records. The agreement licenses distribution rights to Jackson's music over the next seven years.

The deal could involve as many as 10 new Jackson projects. The deal includes computer video games, and future music and film releases. "The audio rights span across different projects," Rob Stringer, chairman of the US label Columbia Epic told the Los Angeles Times.

The agreement is so comprehensive that the contract covers "multimedia platforms that I don't know about today that will happen in 2015."

According to the Wall Street Journal, the deal insures a redminimum of $200 million to his heirs. Since Jackson's death in June of last year, Sony has sold some 31 million albums worldwide.

In the week following his death, Jackson had the three best-selling albums in the U.S. New sales of "Thriller" pushed it into a tie with the Eagles� "Their Greatest Hits (1971-1975)" for the best-selling album of all time.

Jackson died in a rented mansion while he was rehearsing for a series of comeback concerts in London. The film, "This Is It" depicted the singer's preparation for the tour, which was by then already sold out. Jackson's personal physician, Conrad Murray pleaded not guilty to charges of involuntary manslaughter.

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1 - 1 of 1 Comments

sc341
3 years ago
I can't wait to hear his unreleased music. Also "Thriller" is on the Vatican's playlist!

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