LONDON (CNNMoney.com) — The administrators of Michael Jackson’s estate and Sony Music Entertainment have reached a recording deal valued at as much as $250 million, according to published reports.
The deal to distribute 10 albums over seven years is being heralded as the most profitable recording contract ever and guarantees Jackson’s estate $200 million, according to The Wall Street Journal.
The agreement covers unreleased recordings, DVDs and possibly other projects such as video games, reports said.
“There may be theater. There may be films and movies. There may be computer games – or multimedia platforms that I don’t know about today that will happen in 2015-,” Rob Stringer, chairman of Sony’s (SNE) Columbia Epic, was reported as saying by the Los Angeles Times.
Jackson died on June 25 last year after having suffered cardiac arrest.
We miss you MJ, R.I.P.
