Michael Jackson Conjures Up $250 Million Record Contract From Beyond The Grave
Even though Michael Jackson has already passed on, his music is still raking in money. Jackson's estate reportedly signed a recording contract with Sony that would involve releasing a new album and also extend Sony's ownership to Jackson's recordings and back catalogs through 2017. The Jackson estate allegedly signed the deal for $250 million, making it one of the biggest record contracts ever.
A new album from Michael Jackson is expected to be released later this year and will include unreleased recordings and updated versions of old classics. The real money-maker for Sony is going to be ownership of Jackson's catalog, meaning that any time a Jackson song is played in a movie, on television or in a computer game, Sony will get paid.
Hopefully some of this money will go towards getting Jackson's children away from Norwegian rappers.