Kevin Mazur/AEG via Getty ImagesMichael Jackson's final days are coming to a theater—or DVD rack, at least—near you.
Sony-owned Columbia Pictures has purchased the rights to the King of Pop's 2009 rehearsal footage from concert promoter AEG Live for $60 million, according to court documents filed Friday by Jackson's estate.
A judge still needs to sign off on the transaction, which would allow Columbia to craft a PG-rated, feature-length film revolving around Jackson's preparations for what was supposed to be a 50-date comeback engagement in London.
The $60 million encompasses merchandising rights, product tie-ins, a special director's cut, etc. AEG has said that more than 100 hours of footage exists, though the movie is allowed to be no longer than 150 minutes.
This must be some of that "significant value" the special administrators were talking about when they informed the court they were hammering out various deals to enrich Jackson's estate and beneficiaries.
Of course, that's assuming there will be a demand for such a film—and that Katherine Jackson, who has signed a confidentiality agreement allowing her access to the estate's future business dealings, has no major objections.
And why should she? Not only does the contract dictate that the film must show Jackson in a positive light, but 90 percent of the profit will go to her son's estate, with the remainder going to AEG Live.
The matter will be addressed during the next hearing on estate matters, scheduled for Aug. 10.