Sony Music Entertainment has inked Michael Jackson’s estate to the largest recording contact in history, which guarantees the late King of Pop’s estate at least $200 million for 10 projects over the next seven years, RadarOnline.com has learned.
The agreement will formally be announced Tuesday. Projects in the works include an album of never-released songs slated for release this fall; a re-release of Jackson’s 1979 hit album Off The Wall, with bonus tracks; and a DVD featuring all of Jackson’s videos.
“During his life, Michael’s contracts set the standard for the industry,” John Branca, one of the Jackson estate executors, said in a statement Tuesday. “By all objective criteria, this agreement with Sony Music demonstrates the lasting power of Michael’s music by exceeding all previous industry benchmarks.”
Sony’s Rob Stringer said his company is “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.”