A Michael Jackson film is coming to a screen near you soon.
E! News reports that Columbia Pictures bought the rights to footage of Michael rehearsing for what would have bee his 2009 concert series at London’s O2 arena. The production company paid concert promoters AEG Live $60 million for the recordings, according to documents from Michael’s estate.
Under the terms of their transaction the estate would get 90 percent of ticket sale and the rest will go to AEG, according to TMZ.com.
It’s not a done deal yet, though; a judge still has to sign off on the agreement between Columbia and AEG. Altogether, the promotion company said it has more than 100 hours of usable footage for the movie, but the film can’t be longer than 150 minutes.
This could be one of the deals that John Branca and John McClain mentioned would add “significant value” to Michael’s estate.
While there’s been much speculation on that state of Michael’s money since his death, S2S publisher Jamie Foster Brown will be discussing the facts on his finances in an upcoming special for BET.
– Sonya Eskridge