The estate of Michael Jackson has landed the late King of Pop the biggest recording deal in history: a $200million guaranteed contract with Sony Music Entertainment for 10projects over seven years, according to a person familiar with the deal.
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. The person spoke on condition of anonymity because the official announcement is expected Tuesday.
Future projects may also include a video game, a DVD compilation of videos and a re-release of ``Off the Wall,'' Jackson's fifth studio album, which first came out in 1979, accompanied by some unreleased material. Before his sudden death in June at age 50, the pop star had wanted to re-issue the album, people familiar with the deal said.