Michael Jackson (estate) gets record-shattering $200million recording deal

Special to USAfricaonline.com and CLASSmagazine, Houston

The estate of Michael Jackson has reportedly signed the largest recording deal in music history: a $200 million guaranteed contract with Sony Music for 10 projects to be released in the next seven years.

The official announcement is expected Tuesday (March 18, 2010).

The deal,which will run through 2017, could climb in value up to $250 million if certain targets are reached.

The first project expected to be released is an album of previously-unreleased Jackson recordings which will hit store shelves in November.

Other expected recordings include a re-release of Jackson’s first solo album, Off The Wall, which Jackson had expressed an interest in re-issuing prior to his June 2009 death.

Also expected is a DVD compilation of Jackson’s legendary videos.

The two-disc album which accompanied the film and DVD release of This Is It will reportedly be included as part of the contract.

During his life, Michael’s contracts set the standard for the industry,” John Branca, the co-administrator of the Jackson estate, said in a statement prepared for release Tuesday. “By all objective criteria, this agreement with Sony Music demonstrates the lasting power of Michael’s music by exceeding all previous industry benchmarks.”

Rob Stringer, chairman of Sony Music’s Columbia Epic Label Group, said in a prepared statement, “We’re dedicated to protecting this icon’s legacy and we’re thrilled that we can continue to bring his music to the world for the foreseeable future.” USAfricaonline.com wt groovevolt and wire services

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