Posthumous Pop: Largest Record Deal In History For Estate Of Michael Jackson

The estate of Michael Jackson has signed the biggest record industry deal in history, one that guarantees at least $200M from Sony Music over the next ten years.

The record-breaking contract through 2017 could be worth up to $250 million if certain conditions are met. One of the albums will be of never-before-released Jackson recordings that will come out in November, the person said. The person spoke on condition of anonymity because the official announcement is expected Tuesday. Future projects may also include a video game, a DVD compilation of videos and a re-release of "Off the Wall," Jackson's fifth studio album, which first came out in 1979, accompanied by some unreleased material. Before his sudden death in June at age 50, the pop star had wanted to re-issue the album, people familiar with the deal said. One of the projects already counted in the contract was the two-disc album that accompanied "This Is It," the film based on footage of concert rehearsals for what was to have been Jackson's comeback at London's O2 arena.

Over 31 million Michael Jackson albums have been sold since his death in June last year.