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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.
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The Greatest entertainer ever. The numbers, all of them, speak for themselves. I just hope his estate never sells the Beatles catalogue.
Death Becomes Him.
Sony…you will be crying when you realized what a stupid-stupid contract you guys have got yourself into
Michael Jackson was a continuous presence around the world while he was being vilified in the United States. The parochial nature of his treatment (persecution) here does not represent world opinion and the huge success of AVATAR away from the United States will also result in Michael’s music continuing to be successful for a long long time.
I think this goes a long way to show that single biggest threat to M. Jackson’s earnings was Michael himself. I think there were a lot of people like myself who enjoyed his music and videos but could not deal with the increasingly bizzare behaviour.
I just hope his kids see that money and his realitives don’t suck them dry as they get older, much the way they did Michael when he was alive….
I guess everyone forgot about the $1 BILLION recording contract/multimedia deal Jackson inked with Sony in the early ’90s. Like most things Jackson, the hype trumps the truth.
You forgot to mention that this money will go towards paying off the huge debt Jackson had when he died.
SONY knows what their doing. Trust me, by the time this deal is over, SONY will own 100% of the BEATLES catalog. You read it here first!!!!!
I guess i will never stop missing micheal.