Michael Jackson Set To Release 10 Albums
Michael Jackson is about to get the Tupac treatment.
The estate of the late King of Pop has inked a reported $200 million-$250 million deal with Sony Corp. that reports say will pave the way for the release of 10 new albums in seven years time of unreleased songs and older tracks recorded by Jackson.
The deal resembles what happened with Tupac Shakur, when fans were treated with a flood of posthumously released songs, including outtakes, remixes and reworked material.
“This agreement with Sony Music demonstrates the lasting power of Michael’s music by exceeding all previous industry benchmarks,” said John Branca, the attorney who is an administrator of the Jackson estate.
The first project featuring unreleased music is expected for release this November, Sony said in a statement. The deal will also let Sony sell licensing rights Jackson’s songs for use in movies, video games and other outlets, said the Wall Street Journal.
The deal will help the Jackson estate pay off about $125 million of debt and refinance $325 million backed by Jackson’s stake in
Sony/ATV Music Publishing and his 2,600-acre Neverland Ranch in Santa Barbara, the Journal reported.