Sony, Jackson Estate Sign Massive $250M Record Deal

Michael Jackson has landed a record deal that would be the envy of most living superstars. The mega-agreement between Sony and the Jackson estate will involve 10 records—containing both unreleased and repackaged songs—over the next 7 years and guarantees the estate close to $250 million, insiders tell the New York Times.

The deal—which Sony says is the most lucrative recording contract ever—also covers a licensing arrangement for Jackson's music and memorabilia. "We’re not just basing this on how many CDs we sell or how many downloads," explained the head of Sony's Music Label Group. "There are also audio rights for theater, movies, computer games. I don’t know how an audio soundtrack will be used in 2017, but you’ve got to bet on Michael Jackson in any new platform.”