Jackson’s estate makes record profits

Michael Jackson’s estate since his death has made hundreds of millions of dollars unlike the debt the late King of Pop was in prior to his death.

At the time of his death, Michael’s Beatles catalog was worth less than $500,000 because approximately $300 million had been borrowed against it.
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Jackson’s This is It insurance may not be paid

The insurers of Michael Jackson’s “This Is It” London comeback concerts have asked a judge to nullify a $17.5 million policy taken out by promoters, saying they were never told that the singer was taking powerful drugs.

The This is It insurance policy taken out with Lloyd’s of London underwriter Cathedral Capital Ltd.’s syndicate may not ever be paid out as the company goes to the courts trying to void the policy covering the risk of the late Michael Jackson not appearing at performances.

Just days after Jackson’s death, a lawyer acting for AEG Live issued a claim under the policy and submitted Jackson’s death certificate along with it.
The claim was for $17.5 million for the policy issued in April 2009 for Mr. Jackson under the alias “Mark Jones,” according to the Associated Press.

The insurance company is alleging the concert promoter failed to provide necessary medical information and details about Dr. Conrad Murray, the physician accused in the singer’s death, the AP reported. It goes on to say that a medical examination of Jackson required by the insurance policy was never carried out. This seems to be contrary to media reports and Jackson flew through the examination with ‘flying colours’.

The complaint reportedly states that AEG Live should have disclosed Mr. Jackson’s medical history, “including but not limited to, his apparent prescription drug use and/or drug addiction.”

The insurance company claims it has tried to get the information, documentation and witness statements from AEG that it needed to decide whether the claim was valid, but could not obtain the documentation and could not proceed with witness examinations.

“We had no choice but to issue a complaint for declaratory relief in order to secure the court’s assistance in reaching a determination regarding whether the claim is covered or not and in obtaining the necessary information for that determination”

So now we ask, should the insurance company have to pay out this policy?

Let us know what you think

Joe Jackson appeal rejected by courts

Michael Jackson’s father appeal has been rejected by the courts.A California appeals court rejected Michael Jackson’s father to challenge the administration of his son’s lucrative estate.

A three-justice panel of the California Second District Court of Appeal unanimously affirmed a probate judge’s ruling that Joe Jackson didn’t have standing to intervene in his son’s estate.

Finally this can be put to rest.

Michael Jackson this year’s tops the celebrity earner category

Michael Jackson is King even in death. The late King of Pop not only seems to be breaking every record imaginable both while alive and now dead, but Forbes magazine has stated he is this year’s top-earning dead celebrity with $279 million.

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Planet Michael virtual game

Planet Michael, an online virtual world based on the late King of Pop Michael Jackson is coming to fans in 2011.
The Michael Jackson estate has entered a licensing deal with a Los Angeles company that will create an online virtual world based on the King of Pop called “Planet Michael.” Read more

Michael Jackson’s estate steaming over unauthorized movies and books

Michael Jackson’s estate is apparently very angry about what they say is unauthorized movies, books and anything else being peddled without the consent of the official estate. Read more

Michael Jackson’s loan due at the end of year

Michael Jackson’s estate has been able to generate over $1 billion in revenue since the death of the King of Pop but the biggest loan is due at the end of this year. The $300 million loan due at the end of this year. Read more

Michael Jackson’s estate makes $1 billion

Michael Jackson estate generated “at least” $1 billion last year. This figure includes sales from MJ albums, Jackson Five and the Jacksons, 39.4 million song downloads, 4.5 million ringtones, internet licensing worth, This Is It sales, TV rights, DVD and Blu-Ray sales, and Jackson’s music publishing empire, including rights to songs by everyone from the Beatles to Taylor Swift. Read more

Michael Jackson scores video game

Ubisoft® announced on June 14, 2010 that they are developing an interactive Michael Jackson performance-based video game. Unlike other commercial endeavors announced recently, this one is sanctioned by the Estate.
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Michael Jackson leaves money to kids but with strings

Michael Jackson’s will, now being circulated amongst the media, left each of his children more than $33million although strings are attached as to when the children will get their hands on the money. Read more

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