Sony Music have signed an enormous recording deal with the estate of late pop icon Michael Jackson.
Michael Jackson’s death last year left an enormous hole in the music industry. One of the best selling artists of all time, public grief saw the singer’s back catalogue go soaring back up the charts.
The first icon to tragically perish in the download era, Michael Jackson broke all chart records as the public flooded online to re-live their memories of the ‘Thriller’ star.
Since then, speculation has been rife over the singer’s estate. Footage from rehearsals was released as the film ‘This Is It’, a remarkable document which delighted fans and demonstrated just how spectacular those concerts at the O2 Arena were going to be.
Now Sony Music have signed a deal worth some $200 million. BBC reports that the label has reached an agreement with the estate of Michael Jackson which involves ten album projects to be released over seven years.
Amongst those planned is an album of previously unreleased material. The Wall Street Journal reported yesterday (March 15th) that the new deal could eventually reach $250 million if certain conditions are met.
Since his death, Michael Jackson has sold some 31 million albums around the world. It is expected that his estate will shortly be able to pay off the enormous debts the singer’s left behind.
An official announcement is expected to be made later today.
