BLOGonBLAST

Yeesss!!! LONG LIVE THE KING!!! Hate on MJ all you want, but the man was truly bad. I will have my a$$ at the record store purchasing every album to be released. Now my question is: Who will profit the most from this deal??? This is the biggest record deal in history! Post your thoughts!

The record-breaking deal in which Michael Jackson’s estate will get up to $250 million in the next seven years probably isn’t a huge gamble for the company that will pay the money out, Sony Music Entertainment.

Before he died last June at age 50, Jackson, a prolific songwriter, left dozens of unreleased recordings that are sure to be in high demand. Those include studio sessions from some of his best albums and recently recorded songs made with the likes of Black Eyed Peas frontman will.i.am.

Under a deal officially announced Tuesday, Sony has guaranteed Jackson’s estate $200 million for 10 projects over the next seven years. One of them, a movie and album called “This Is It,” was already completed. If certain conditions are met, the payment could rise to $250 million.

Since Jackson’s death, estate co-administrator John McClain, a childhood friend and Jackson producer, has combed through boxes of tapes and recordings Jackson left behind. McClain and the other co-administrator, John Branca, who cut the Sony deal, each stand to make 5 percent on every new dollar of revenue brought into the estate.

McClain found about 60 songs in various forms that have never been released, according to people familiar with the songs, who spoke on condition of anonymity because what will be done with the material remains in flux.

Even if only half of them are commercially viable, that would be enough for two or three albums. And some songs could also be packaged with already-heard material. That likely wouldn’t detract from a new album’s value. It might even add to it, because fans have been flocking to known commodities in music. *SOURCE*