The executors of Michael Jackson’s estate and Sony have teamed up for what is a record setting deal that’s being valued as much as $250 million.
According to the Wall Street Journal, the deal, which guarantees MJ’s estate $200 million, calls for 10 more Michael Jackson albums to be released in the next seven years that will be compiled using his greatest hits, remixes, demos, and other unreleased material. The soundtrack for the film This Is It is covered by the contract, so that means we can look forward to 9 more MJ releases hitting stores by 2017.
The money Sony is paying MJ’s estate will be covered by licensing out Michael’s music for use in video games, mobile apps, movies, and more. It’s speculated that Cirque du Soleil will put together a Las Vegas show using Michael Jackson’s music, similar to the one that they did for The Beatles.
Read more about this historic deal at the Wall Street Journal.