Sony bids for Michael Jackson last rehearsal film

Sony Corp.'s movie studio has bid $50 million to acquire the worldwide distribution rights to a film based on rehearsal footage for Michael Jackson's "This Is It" comeback concert series.

The bidding was revealed earlier by Los Angeles Times, that according to a person who spoke on condition of anonymity because the bidding has not been finalized yet. It also said several studios, including Paramount, Universal, 20th Century Fox and Warner Bros, were shown footage of the rehearsals.

Sony Pictures seems to have made the highest bid because Sony Music is Jackson’s music distributor and also a 50% partner in Michael’s publishing ventures.

The highest bidder would produce the video with Michael Jackson’s Concert promoter, AEG Live and his estate.

AEG Live and Jackson estate is negotiating with several televisions and pay per view outlets on a TV special that would stage rehearsals showing Michael Dancing and Singing. It would be directed by “This Is It” director Kenny Ortega

Michael Jackson estate special administrators, Attorney Branca and John Mc Clain has been sorting through unreleased Jackson’s recordings and have move quickly to secure Jackson’s assets and cut deals to take benefit of the wave of interest since Michael died. Sony is expected to be releasing soon a commemorative album.

Katherine Jackson is challenging the authority of men whom Michael’s will named as executors. Michael’ will direct all his assets to be placed in a trust that will benefit Katherine, his three children and unnamed children’s charities. His estate is estimated to be worth $500 million.