LOS ANGELES: The estate of Michael Jackson has landed the late King of Pop 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. One of the albums will be of never-before-released Jackson recordings the person said.
The person spoke on condition of anonymity because the official announcement is expected soon. Future projects may also include a video game, a DVD compilation of videos and a re-release of Off the Wall, MJ's 5th 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 re-issue the album, people familiar with the deal said.
Jackson has sold some 31 million albums since his death in June, about two-thirds of them outside the United States.