Michael Jackson gets $200 million deal with Sony
There were rumors, sure, but TMZ and other sources have now confirmed that the estate of Michael Jackson has signed a deal with Sony Music worth up to $250 million, and the guy's not even alive. How's that feel, American Idol rejects?
Estate executors John Branca and John McClain put together a deal that will include 10 projects over seven years, with a guaranteed payout of at least $200 million. The site says there is enough recorded material for three full albums of new Jackson material. One will come out in November, TMZ says. Take that, Tupac Shakur.
Sony gets two years added to their rights to Michael Jackson's catalog, so they will distribute the stuff everyone knows through 2017.They don't get the Beatles' catalog, though. Don't worry about being inundated with MJ albums -- TMZ adds that most of the focus is on foreign markets, where 2/3 of MJ albums usually sell. And you think American culture is bizarre.
[Photo: Getty Images]