Some people think Sony are in control, they have never really been in control, Michael did things his way for a reason, he had final say on everything. The Estate have Sony at their knees in a sense, the short contract works perfectly that gives the estate another shot in 7 years, plus the fact that there is so many releases in that space is promising, I dont think the estate would give up everything in 7 years, they much have troves of stuff
unk:
)No, I can understand why you're worried. As a matter of fact, I don't have a huge faith in their plan when it comes to releasing unreleased tracks. Yes, they WILL release some of them, but I believe it will come with at least several compilations of hits and tribute and/or remix albums. Which is why I'm not impressed with this "10 albums over 7 years" blueprint. Sony will probably keep on hyping up upcoming releases, but only hint at previously unreleased material before putting out an album with only a few of them on it. They know how much we fans look forward to the tracks, so they will milk it for all its worth. I wouldn't be shocked if only 1 of the 10 albums are filled only with unreleased songs.
MJ had a $300 million loan from Bank of America. Who knows what else he owed money on. MJ owed people money, just like 50% of the US population does. I don't see it as a big deal when they report MJ owes money. It's just a fact. Soon enough all the debts MJ left behind will be paid off.So the estate is not in debt?
*sigh* What I would give to remember a time when you could trust what you read.
And to think some people on here were crying foul that the lawyers of the estate wanted to get paid for their work....
.....
The record-breaking contract through 2017 could be worth up to $250 million if certain conditions are met. One of the albums will be of never-before-released Jackson recordings that will come out in November, the person said. (there's the answer to my previous question
"During his life, Michael's contracts set the standard for the industry," said John Branca, the co-administrator of the Jackson estate, in a statement prepared for release Tuesday. "By all objective criteria, this agreement with Sony Music demonstrates the lasting power of Michael's music by exceeding all previous industry benchmarks."
Rob Stringer, chairman of Sony Music's Columbia Epic Label Group, said in prepared remarks, "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."
The landmark deal is worth more than all other benchmarks, such as the all-encompassing rights deals that concert promoter and ticket-seller Live Nation Entertainment Inc. had previously signed with Madonna at $120 million and Jay-Z for $150 million.
The deal with Jackson's estate is even more remarkable because it does not include royalties from merchandise.
[...]
Distribution rights for "This Is It" were sold to Sony Pictures, another unit of Sony Corp., for $60 million and the movie went on to gross $252 million worldwide, the most of any concert film ever.
