For Michael Jackson estate, the money is already rolling in

 

Michael Jackson’s estate is poised to double the performer’s net worth by the end of this year with earnings of $200 million, according to a longtime associate and co-administrator of the performer’s affairs.

In an interview today, entertainment attorney John Branca said that deals hammered out in the seven weeks since Jackson’s death -- including a film project, merchandising deals and other agreements -- had brought $100 million to the estate. Two of those deals are still awaiting court approval.

The revenue will go into a trust that benefits Jackson’s mother, two sons and daughter and charities that help children.

Branca began representing Jackson in 1980, but the pair parted in 2006. Jackson rehired Branca on June 17, eight days before the entertainer’s death, during a meeting in which they discussed an array of projects, including Broadway show, a movie, a coffee table book and a major charity event that they hoped would attract Oprah Winfrey and Michelle Obama's participation.

Branca also said a new Jackson song would be included on a soundtrack from the Sony Pictures film of Jackson's rehearsals, to be released in October. He said Jackson left about 60 new recordings -- enough to support multiple albums in coming years. Branca also said the estate had no plans to sell its 50% stake in the lucrative catalog of songs by the Beatles and others that it owns with Sony Corp; he thought the relationship between the estate and Sony would remain about the same.

-- Harriet Ryan

Photo: Jackson rehearsing at Staples Center on June 23. Credit: AFP/Getty Images

Comments

[Cherubim]

I'm happy for Michael Jackson's children, and this is
exactly what I have been wanting to hear:

"Branca also said a new Jackson song would be included on a soundtrack from the Sony Pictures film of Jackson's rehearsals, to be released in October. He said Jackson left about 60 new recordings -- enough to support multiple albums in coming years. Branca also said the estate had no plans to sell its 50% stake in the lucrative catalog of songs by the Beatles and others that it owns with Sony Corp; he thought the relationship between the estate and Sony would remain about the same."

God has called his Angel, Michael Jackson, back to Heaven to sing for those
assembled there.

[SoCalGal]

You go, John Branca! Michael did himself a big favor by putting you back on the payroll.

[kem]

Don't foregt half of what the estate earns goes to taxes so don't expect the estate's value to double. Also what about the $400 million debt we heard so much about?

[Shag]

As long as the courts keep them open and honest, I am happy about the co-administrator's being involved with Michael's estate. Besides Janet and possibly Rebe, none of the others have shown themselves to be successful at anything since their Jacksons years.
And certainly, if the estate were left in the hands of the mom, Joe would get his grubby hands on the money.
I remember when he told an interviewer, "Debbie Rowe ain't go nothing to do with what we doin'." When he said that, I saw the potential for trouble.

[PhantomX]

Someone needs to do something about those mega billion estate money managers. I feel for Katherine inside her immediate nightmare. I hope Bank Of New York Mellon is not the trustee and Bank of America is not the custodian and JP Morgan Chase is not the introducing bank and Merrill Lynch is not the central asset manager--:: That's one Wall Street mob that specialize in investing the beneficiary down to pork-n-beans and rice; no franks. . .: { Literati Di Graffito X }. . .