TMZ has confirmed the Michael Jackson estate has signed the biggest deal ever in music -- worth up to $250 million with a guarantee of $200 million.
The estate made the deal with Sony Music Entertainment -- the contract is for 10 projects over seven years.
One album will debut in November, which contains never-before released recordings. We're told Jackson left enough material for at least three albums of fresh material.
A source tells TMZ the royalty rate on foreign sales is the key to the deal -- and 2/3 of the sales of MJ records traditionally have been outside the U.S.
And we're told Sony gets a two-year extension for the right to distribute the Michael Jackson catalog -- to 2017.
The deal has nothing to do with The Beatles' catalog -- it's all about MJ original recordings.
The agreement was brokered by John Branca and John McClain, executors of the MJ estate.
The company that sued Michael Jackson for allegedly torpedoing a family concert has just filed a $300,000,000 creditor's claim against MJ's estate.
AllGood Entertainment claims it had a deal with Jackson to put on a Jackson family concert and alleges the deal was broken when Jackson committed to the London series of concerts. In the $300,000,000 federal lawsuit filed in October 2009, AllGood was asking for profits from "This Is It" along with revenues from the Sony catalog.
AllGood claims Michael Jackson and his agent, Frank Dileo, "secretly teamed up with AEG [Live] to produce a concert or series of concerts in London."
AllGood Entertainment filed the claim Friday.
UPDATE: Howard Weitzman, lawyer for the Michael Jackson estate, tells TMZ, "AllGood's creditor's claim and its underlying lawsuit are frivolous and wholly without merit."
Every Michael Jackson fan was overjoyed at the new song that leaked this weekend -- everyone except his record label, Lenny Kravitz and all of Michael's lawyers.
Sources tell TMZ the Jackson song, called "Another Day" and done with Lenny Kravitz, was never meant to see the light of day. We're told Sony, with the support of Jackson's estate lawyers, wants to have the song pulled off the Internet.
For his part, Lenny Kravitz posted a video saying he didn't leak the song and he has no idea how it got out there.
He says the song is not mixed and not a final version.
The people behind "This Is It" are furious over reports that the Michael Jackson featured in the movie is a body double -- claiming those reports are "pure garbage."
The controversy began earlier this month after Joe Jackson claimed the media was going to "tear this movie apart" -- and insisted it was "mostly body doubles."
But a rep from Sony -- co-producers of the flick -- tells TMZ, "This story is pure garbage and there are no body doubles.
Audiences will begin to see the film tomorrow and every time they see The King of Pop they will know that every frame is unquestionably Michael as he rehearses and prepares for the London concerts that were to have begun this past summer."
AllGood Entertainment is now going after Michael Jackson's estate in the battle over profits from the upcoming movie "This Is It," along with revenues from the Sony catalog -- and the company wants more than $300 million!!!
AllGood previously filed suit against Michael Jackson, AEG Live and Frank Dileo for $40 million -- that's when Jackson was alive. Now AllGood filed an amended lawsuit today in federal court, which now includes the estate of Michael Jackson. The original defendants are still named in the amended suit.
AllGood sued because it claims Dileo acted as Jackson's agent and agreed to a Jackson family reunion concert and that got torpedoed when the London concerts were booked.
As for why the demand has swelled from $40 mil to $300 mil, AllGood says it never anticipated that Jackson would die and that a movie would be made, which now ups the ante.
AllGood is AlsoSuing John Branca and John McClain, co-special administrators of the estate.
Sources who have heard the unreleased recordings of Michael Jackson say there are at least 2 albums worth of class A songs that will be released over time, and some of them are even better than "This Is It."
We're told many of the songs that will make the cut were written and recorded by Jackson after he left Sony in 2004.
As for "This Is It" -- we're told everyone involved liked the tune but it wasn't the best. As one source said, given the title and the tone, "It was the most appropriate song for the end of the movie."
We've learned lawyers for Michael Jackson's estate went to court today and the probate judge gave permission for them to strike a deal with Sony Music for the production and distribution of a soundtrack album in connection with the "This is It" film release.
Sources say Sony and the estate have reached an agreement.
What's an "Idol" fan to do while they wait for the glory that is Simon's soul-crushing remarks about a person's warbling? They could just hang out in creepy karaoke bars and heckle the patrons, or to keep from being beat up, they could pick up a copy of "SingStar" for their PlayStation 3.
Hitting stores November 13, SingStar gives everyone a chance to become the pop star they were destined not to be. Each game is packed with two microphones, so you and a friend can perform along with your favorites. Artists include U2, David Bowie, Franz Ferdinand, The Killers, OutKast, Weezer and the TMZ's favorite train wreck, Britney Spears. For the true exhibitionist, if you have an EyeToy camera attached to your PlayStation 3, you can tape your best performance and upload it for all the world to see on My SingStar, the SingStar community.
So get your friends together, create a faux contest, and judge each other harshly for your horrible singing. It's the "American Idol" way!
Meteorologically speaking, this weekend marks the official beginning of "June gloom" in Los Angeles, a period during which each day begins with a deep fog. But some celebs chose to get an early jump on the foggy phenomenon.
Kobe Bryant: During a week when Cleveland Cavaliers star LeBron James logged one of the greatest playoff performances in NBA history (as well as classiest post-game press conference), KB went public with his whining and clanged one off the respectability rim not once, or twice but ... oh hell, who's counting anymore? It all ended with Lakers owner Jerry Buss making time (before his annual vacation in Italy) to assure his star that all efforts will be made to turn the team into a contender again. And sure enough, rumors were flying at press time about a possible trade involving Indiana Pacer Jermaine O'Neal. But wait ... does Kobe really want to shack up with another guy named O'Neal? Doesn't he remember what happened last time, all of this week's Shaq rift denials notwithstanding?
Now that both next gen systems have hit stores, sucking hard-earned cash out of gamer wallets, let's take a look at the very different console launches.
The PS3, with its cell processor and Blu-Ray, was created and marketed for the hardcore gamer. Gamers who flocked to the release of the $600 system were a bit more tenacious than retailers expected; stabbings, shootings, robberies and mini-riots plagued campout lines. Not exactly the welcome Sony expected. Most of those waiting in line were planning to sell the system on eBay for a quick buck; some sold as high as $2500, they're now selling for more reasonable $1200 on the auction site. Still a tidy profit (if you don't mind standing in the rain for three days).
Conversely, the Wii launch was a well-oiled machine. Most who waited in lines were guaranteed a Wii for $250, with chances of bodily harm remaining slim. A virtual love fest. In order to choose console recipients, raffle tickets were handed out to people in line, instead of the lunatic PS3 race for chairs that caused one gamer to receive a dislocated jaw -- the guy hung in there and got a PS3. Seriously dude, that's hardcore.
An unscientific poll of gamers (friends) and non-gamers (the rest of the TMZ staff) has the Wii on top, citing the wireless remote and lower cost as main factors.
With Friday's release of the PS3 finally just hours away, it's time for diehard gamers to forsake their jobs, families and all personal responsibilities to wait in a line outside of an electronics superstore.
If you happen to be one of the people who have the vacation time available to use for a chance to buy the PS3, here are a few tips from your gamer pals at TMZ.com:
