Michael Jackson Estate Gets $250 Mil Deal
Michael Jackson’s record-breaking legacy continues to outlive him. Less than a year after the pop star’s tragic passing, the Jackson estate scored a seven-year, $250 million dollar deal with music giant Sony Music Entertainment—the largest record deal in history. The contract will span seven years and 10 albums, including one compilation of unreleased songs by the pop legend scheduled for release later this year.
The King of Pop’s estate is guaranteed to earn up to $200 million in revenue, with future projects rumored to include a DVD compilation of videos, a video game, and a re-release of Jackson’s 1979 album Off The Wall. "During his life, Michael’s contracts set the standard for the industry," co-administrator of the Jackson estate, John Branca, said in a statement. "By all objective criteria, this agreement with Sony Music demonstrates the lasting power of Michael’s music by exceeding all previous industry benchmarks." The history-making contract is a testimony to the King of Pop’s unprecedented success, and that even in death, Michael Jackson is invincible. –KRIS ALCANTARA
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