Although we’ve yet to reach the one-year anniversary of pop star Michael Jackson ’s untimely death, his estate is making major moves in the music industry.
Just this week the estate of Jackson sealed a record-breaking deal with Sony Music Entertainment. The Wall Street Journal reports that Sony has agreed to pay his estate a staggering $250 million for the rights to release 10 albums from Jackson in the next few years.
“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,” said Sony Music Chairman Rob Stringer, reports Rap-Up.com.
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Sony’s deal with the Jackson estate is considered the biggest record deal in history. The deal will include past songs from Jackson as well as new, unreleased material from the singer.
The Wall Street Journal also reports that since Jackson’s death Sony has gone on to sell over 30 million copies of his various albums.
