Sony, Jackson Estate Sign Massive $250M Record Deal
Package includes 10 recordings, audio rights
By Rob Quinn,  Newser Staff
Posted Mar 16, 2010 1:20 AM CDT
Updated Mar 16, 2010 5:21 AM CDT
Michael Jackson performs during his 13-city US tour in Kansas City, Mo., in 1988.   (AP Photo/Cliff Schiappa, File)

(Newser) – Michael Jackson has landed a record deal that would be the envy of most living superstars. The mega-agreement between Sony and the Jackson estate will involve 10 records—containing both unreleased and repackaged songs—over the next 7 years and guarantees the estate close to $250 million, insiders tell the New York Times.

The deal—which Sony says is the most lucrative recording contract ever—also covers a licensing arrangement for Jackson's music and memorabilia. "We’re not just basing this on how many CDs we sell or how many downloads," explained the head of Sony's Music Label Group. "There are also audio rights for theater, movies, computer games. I don’t know how an audio soundtrack will be used in 2017, but you’ve got to bet on Michael Jackson in any new platform.”
 

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