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.
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.
“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 US.