Published Jul 23, 2009Ever since Michael "the King of Pop" Jackson passed away late last month, the media circus has lost its collective mind with the sheer amount of plans to cash in. And even when you thought it was starting to waver, the news has come that Sony Pictures has bid $50 million for 80 hours of rehearsal footage from Jackson's planned comeback tour.
The "This Is It" comeback tour was originally set to kick off this month. Sony reportedly joined Paramount, Universal and 20th Century Fox in a bidding war for the footage, with Sony leading the pack with its massive offer. The studio is planning to edit the footage into a theatrical film, which it plans to release on October 30 as a Halloween tie-in. (The MJ costumes are going to be flying off the shelves!)
The film would be directed by High School Musical director Kenny Ortega, who was one of the minds behind the "This Is It" tour. The promoters of the tour have reportedly lost over $30 million since its cancellation.