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The Independent reports that Michael Jackson’s estate has announced a record breaking contract with Sony to the figure of $200 million, granting the right to release 10 new Michael Jackson albums, video games and DVDs between now and 2017.
If specified sales figures are met, the figure could rise to as much as $250 million.
“This agreement with Sony Music demonstrates the lasting power of Michael’s music by exceeding all previous industry benchmarks,” said John Branca, a lawyer and co-administrator of the Jackson estate.
In addition to a number of album releases – featuring both newly discovered and old material – Sony is expected to release DVD compilations of Jackson’s music videos and a Jackson-themed video game – no specifics were given.
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