NEWSMichael Jackson's Estate Signing $200 Million Music Deal
March 16 2010, Published 1:30 p.m. ET
Michael Jackson is set to make recording history, eight months after his death, in a mega-music deal with Sony Music Entertainment worth $200 million.
Michael Jackson's estate is poised to sign the seven year deal with the artist's long-time label, in what would be the richest recording deal in history, reports E! Online.
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The deal, set to be announced today, is for 10 projects, including the two-disc soundtrack from the concert film This Is It and an upcoming album of never-before-released Jackson music.
The deal doesn't include touring or merchandise, so it dwarfs the huge contracts signed by Madonna and U2 with Live Nation.
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"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."
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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 US.
