The biggest record deal ever signed was just concluded between Michael Jackson’s estate and Sony Music for a guaranteed advance payment of $250 million plus royalties at an especially high royalty rate (?)for sales both inside and outside the United States, news worth reporting when mega tend to become rare in the music industry nowdays.

The new contract covers the late singer’s unreleased materials. A first record is scheduled for November 2010. It also allows Sony and the estate to work together on a wide range of licensing arrangements, like the use of the singer’s music for films, TV, stage shows and lines of memorabilia, according to The Times.

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