PALIN MITENK BLOG

By Mail Foreign Service

Still bringing in the dollars: The estate of the late Michael Jackson signed a new seven-year record deal, worth $200m


Nine months after his sudden death, Michael Jackson has landed the biggest recording deal in history.

The singer's estate has signed a $200million (£131m) seven-year contract for ten projects, including an album of never-before-heard songs, a video game and the re-release of his hugely successful album, Off The Wall.

The landmark deal with Sony dwarfs other contracts signed by stars such as Madonna, who has an £80million contract, and rapper Jay-Z, whose deal is said to be worth £100million.

The Jackson deal - which could also include a Cirque du Soleil show in Las Vegas based on his hits - is even more remarkable because it does not include royalties from any merchandise linked to the new releases.

Music industry experts predict that the contract could be worth close to £180million by the time it expires in 2017.

The 50-year-old singer died from an overdose of the anaesthetic Propofol last June, just weeks before he was about to embark on a comeback tour at the 02 arena.

Industry figures show he has sold 31million albums since then, earning more than £165million. This Is It, a film of rehearsal footage of his London concert released last October - has also taken £160million at the box office.


Revived: Remastered versions of classic albums Off The Wall (1979) and Bad (1987) could be released under the deal

Sony is rumoured to be sitting on up to 60 unreleased tracks and is said to be considering remixing many of Jackson's former hit albums.

Some of the money will be used to repay the £280million of debts racked up by Jackson as his career declined during the 1990s following allegations of child abuse.

Rob Stringer, chairman of Sony Music's Columbia/Epic Label Group, said: 'We're dedicated to protecting this icon's legacy and we're thrilled that we can continue to bring his music to the world.'


source: dialymail