MJ's Estate Moving Fast To Cash In
August 6, 2009 at 5:00 AM (PT)
The estate of MICHAEL JACKSON is moving quickly to capitalize on the late singer, with merchandising deals, a tribute concert, a TV special and even a traveling exhibition of JACKSON memorabilia discussed and planned. The LOS ANGELES TIMES reports in a court filing last week, JERYLL S. COHEN, a lawyer for the administrators, said she expected the deals to generate an amount in the "high eight figures" -- which would mean tens of millions of dollars -- for the singer's estate.
The people involved include administrators JOHN MCCLAIN and JOHN BRANCA, BRAVADO INTERNATIONAL GROUP MERCHANDISING SERVICES and AEG LIVE. The terms of the various deals are included in a court filing that was made public TUESDAY, including proposals for embossed wine decanters, virtual tattoos and a high-end clothing line all bearing the JACKSON brand.
Also included in the court papers is confirmation that COLUMBIA PICTURES paid AEG $60 million for the rights to make a feature-length movie from rehearsal footage for JACKSON's "This Is It" concerts in LONDON.
All of the plans are subject to the approval of a LOS ANGELES probate judge who will review the documents at a hearing MONDAY.
The TIMES also reports BRANCA and MCCLAIN have a deal with BRAVADO -- the merchandising wing of UNIVERSAL MUSIC GROUP -- to produce and distribute an number of products using JACKSON's music and image.