BREAKING NEWS
OK LogoNEWS

Confirmed: Michael Jackson's Estate Signs With Sony For $250 Million

2010__03__michael_jackson_march16news 217×225.jpg

Mar. 16 2010, Published 8:14 a.m. ET

Link to FacebookShare to XShare to Email

Leave it up to the King of Pop to set record history after his death. The Michael Jackson estate has officially inked a record deal with Sony Entertainment — and it's not just any music contract. The signed agreement breaks the record for the biggest music deal ever at a maximum amount of $250 million (with a guarantee of $200 million), TMZ reports.

The contract documents the completion of 10 projects over seven years, TMZ reports.

Article continues below advertisement

OK! NEWS: MICHAEL JACKSON ESTATE SIGNING $200 MILLION MUSIC DEAL

The first album will debut in November, which contains never-before released recordings.

MJ left enough material for at least three albums of fresh material. The deal doesn’t include touring or merchandise, so it dwarfs the huge contracts signed by Madonna and U2 with Live Nation.

OK! NEWS: CHILD ORDERS STUN GUN, DELIVERED TO JACKSON HOME

MORE ON:
Michael Jackson

“During his life, Michael’s contracts set the standard for the industry,” estate administrator John Branca said in a prepared statement obtained a day early by the Associated Press.

“By all objective criteria, this agreement with Sony Music demonstrates the lasting power of Michael’s music by exceeding all previous industry benchmarks.”

Possible “new” efforts could include a remastered release of MJ’s 1979 hit album, Off the Wall, a DVD compilation of his pioneering videos and a video game, according to insiders.

Not only did This Is It sell more than five million copies, but Michael was the biggest-selling artist of 2009. Fans picked up more than 31 million copies of his albums following his death in June, with two-thirds of sales occurring outside the U.S.

Advertisement

Want OK! each day? Sign up here!

Opt-out of personalized ads

© Copyright 2024 OK!™️. A DIVISION OF EMPIRE MEDIA GROUP INC. OK! is a registered trademark. All rights reserved. Registration on or use of this site constitutes acceptance of our Terms of Service, Privacy Policy and Cookies Policy. People may receive compensation for some links to products and services. Offers may be subject to change without notice.