Jackson estate in record deal worth up to $250 mlnAP, Mar 16, 2010 2:00 am PDT
Even in death, Michael Jackson is 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, according to a person familiar with the deal.
The record-breaking contract through 2017 could be worth up to $250 million if certain conditions are met. One of the albums will be of never-before-released Jackson recordings that will come out in November, the person said.
The person spoke on condition of anonymity because the official announcement is expected later Tuesday.
Future projects may also include a video game, a DVD compilation of videos and a rerelease of “Off the Wall,” Jackson’s fifth studio album, which first came out in 1979, accompanied by some unreleased material. Before his sudden death in June at age 50, the pop star had wanted to reissue the album
