Sony Pictures is in final negotiations to acquire the film that will be made out of Michael Jackson's rehearsal footage from the ill-fated This Is It concerts.
According to reports, the price for the project is $60 million, above initial projections reported elsewhere. Sony and AEG Live have announced that the film will be released on Friday, October 30. The split on the money is 90% to the Michael Jackson estate and 10% to AEG Live.
Furthermore it was reported by Billboard.com that Michael Jackson's father Joe Jackson's efforts in conjunction with promoter Leonard Rowe have "muddied the waters" in the Michael Jackson Estate and AEG's attempt to close a TV network deal for the presentation of the original This Is It production.
The This Is It special has been conceived as a tribute to Michael featuring Janet, The Jackson 5, and other major performers.
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