The art world expects paintings to spike in value once the artists dies. It doesn’t often happen in the music world, but Michael Jackson has achieved one more record: getting the highest amount ever paid for a recording contract. According to reports, Sony Corp agreed to pay Jackson’s estate up to $250 million or more for 10 albums of unreleased songs and reissues of his well-known tunes. The Wall Street Journal broke the story that Sony has sold 31 million Jackson albums worldwide since his June 25 death. The new deal will be applied retroactively to the soundtrack to the documentary This Is It. This is the same Michael Jackson who struggled with his finances and his reputation until the day he died.
For all of Deadline's headlines, follow us @Deadline on Twitter.
This article was printed from http://www.deadline.com/2010/03/michael-jackson-makes-record-breaking-deal/