Jackson Executors: How We Turned it Around
And here’s a part of the reason for the hoax (maybe)…
9/23/2010 11:45 AM PDT by TMZ Staff
The executors in the Michael Jackson Estate have just filed legal docs explaining how they turned chaos and financial ruin into a booming, postmortem business.
According to the docs, obtained by TMZ, Jackson owed 10’s of millions of bucks at the time he died. We’ve previously reported how the Jackson family was about to lose their home in Encino and Jackson was on the brink of going belly up.
Executors John Branca and John McClain turned things around in a big way, for two primary reasons. First, they restructured all of his debts and got creditors to significantly lower killer interest rates.
Secondly, the executors went full bore to generate revenue — and the brass ring was the movie, “This Is It.” According to the docs, the flick grossed $260,000,000, the most lucrative documentary in history.
As for the album, “This Is It,” it sold 5 million copies, making it the 3rd biggest album in 2009.
As for other deals, the executors:
– Republished the “Moonwalk” book
– Made mega-merchandising agreements for all things Jacko
– Distributed a leather-bound, coffee table book on the life of MJ
– Renegotiated MJ’s royalty agreements with record label
But there were lots of legal fees that were incurred to make the estate money — more than $3.8 million since Jacko’s death.
The estate also notes what we’ve already reported — that they paid off the Jackson family home in Encino, bought Katherine Jackson a car and did lots of other stuff for the family.
http://www.tmz.com/2010/09/23/michael-jackson-estate-executors-business-turn-around/
Bizarre Claims Keep Jackson’s Estate Lawyer Busy
Thanks to Dominique from
http://thedeathofmj.forumotion.com
By Eriq Gardner
LOS ANGELES (Hollywood Reporter) – Michael Jackson was involved in a startling number of lawsuits throughout his career, and now his estate is attracting enormous legal interest.
Attorney John Branca and music executive John McClain are the executors of the estate, but the primary responsibility for handling legal actions has fallen to Howard Weitzman, one of the few Hollywood lawyers equally comfortable with deals and lawsuits. He’s been dealing with a range of issues, from copyright concerns over Jackson’s posthumous songs to charities trying to leverage Jackson’s name without authority to allegedly misleading documentaries and battles over control of the estate. Then, of course, there’s the bizarre stuff.
HE’S BEEN GONE A YEAR BUT MICHAEL JACKSON MUST BE KEEPING YOU VERY BUSY?
Weitzman: It’s been a real roller coaster ride. You have issues on the business front like the “This Is It” film with Sony and the Cirque du Soleil (shows). The transactional issues are mostly handled by Branca, but because of my unique position, I have the opportunity to look and review these deals. That said, I’m mostly involved on the litigation front, from helping make decisions to pay certain claims from creditors that are meritorious to dealing with the challenges of the appointment of the executors. There’s continuing challenges dealing with the Jackson family and we want to make sure the beneficiaries Katherine and the children are treated appropriately.
THERE WERE A LOT OF CREDITORS HOUNDING JACKSON AT THE TIME OF HIS DEATH. WHAT’S THE STATUS THERE?
Weitzman: A lot of claims we’ve been able to resolve because they were less than meritorious. Some claims were accepted and paid out. Others may end up at trial. I do expect more lawsuits to be filed in the future because Michael was and still is a big target.
WHAT ARE SOME OF THE STRANGEST CLAIMS AGAINST THE JACKSON ESTATE?
Weitzman: Wow, not a week goes by where something strange doesn’t happen. There are consistent claims by people claiming to be Michael’s wife or child. One lady from the Netherlands kept insisting that she was his daughter. You have to take them seriously when they file claims. There was one woman who claimed $5 million because she wanted to mentor his kids. She insisted she be given a house. She even filed a petition to adopt the children!
HOW DO YOU HANDLE THESE SITUATIONS?
Weitzman: I try not to be rude. I just firmly have to tell them we don’t think your claim is meritorious and don’t think it would be in your interest to pursue this further. Most of the time it goes away. Of course, some matters just keep coming up, like that lady who says she was the basis for the song “Billie Jean.” She’s filed numerous times. Sometimes, you just have to laugh. It’s amazing what some people are claiming.
Copyright 2010 Reuters News Service.
http://abcnews.go.com/Entertainment/wirestory?id=11029958&page=1
Follow the Michael Jackson Money Trail
Confused as I am about all this?Originally posted Jun 25th 2010 12:45 AM PDT by TMZ Staff
Michael Jackson‘s parents are giving fans an ultimatum — don’t even try to use MJ’s name or likeness to make money. Problem is … they don’t have the right either.
We found a document posted on the Jackson Family Foundation website — that’s the organization that’sthrowing a bash at the Beverly Hilton in Bev Hills Saturday night at prices as high as $500 a ticket.
The document, signed by Joseph Jackson, Chairman, and Katherine Jackson, Vice Chairman, warns fans, “Please, do not … Use the ‘Jackson Family” name ‘The Jackson Family Foundation’ or ‘Michael Jackson’ as a means to advertise the sale of commercial products, fundraisers or services of any kind.”
The reality — Michael’s parents — just like the fans — have no right to exploit MJ’s name and likeness. That right belongs solely and exclusively to the estate of Michael Jackson.
What’s more, we did some digging and Joe has created a company that may well be cashing in on Michael’s name. It’s called the Jackson Development & Marketing Corporation, incorporated in Nevada last December, after Michael died. Joe is listed as the director and Lowell Henry, a longtime financial advisor of Joe and Katherine, is the treasurer.
And get this … Take a look at the picture of the guy in the red tie, next to Katherine in a promotional pic for Katherine’s new book, “Never Can Say Goodbye.” That guy is none other than Lowell Henry.
Interesting … in the book, Katherine thanks Lowell, Joe and the estate. We’re told no one told the MJ estate about the book until its release was announced.
As for the Beverly Hilton bash, Joe’s PR person tells TMZ Joe will not be profiting from the Beverly Hilton event, and that the money is all going to charity. But VoicePlate.com, which is co-sponsoring the event, tells TMZ some but not all of the money will go to charity.
Michael Jackson’s estate keeping control of 50% stake on rights to more than 250 Beatles songs
Why would he need to refinance anything? Hasn’t the Estate already made over one billion dollars over the past year? And why is the media always so interested in MJ’s finances? Jealous?
BY KATIE NELSON
Thursday, June 24th 2010, 10:39 PM
Executors of Michael Jackson’s estate are keeping control of the rights to more than 250 Beatles songs, according to Bloomberg News.
Michael Jackson may be dead, but he’s not giving up his white-gloved grip on Beatles tunes.
Executors of the pop star’s estate are keeping control of a 50% stake on the rights to more than 250 Beatles songs, according to Bloomberg News.
The tunes are the estate’s most valuable asset, so the estate executors considered selling to Sony/ATV Music Publishing LLC to pay off $500 million in debt.
But they would prefer not to sell off the Beatles catalogue because of its long-term value and the consistent cash it generates, sources told Bloomberg News.
Instead, it’s likely the estate will refinance a $300 million loan that’s due later this year.
Since Jackson died one year ago today at the age of 50, the music icon’s estate has been paying down his debts through sales of his music, the “This is It” documentary and other merchandise.
Even more money should come in to help Jackson’s 80-year-old mother and his three young kids, Paris, Prince and Blanket, through a new album of 10 unreleased Jackson songs that’s in the works.
TMZ June 24, 2010 (Lot’s of MJ news)
What in the world is going on with Katherine’s book and the tribute on June 26?? She did a video endorsing it, yet we get these conflicting news about it…
As for Murray, OF COURSE someone is backing him financially ! But who???
MJ Fans Begin to Arrive at Cemetery
Originally posted 38 minutes ago by TMZ Staff
The first group of Michael Jackson fans have just arrived to Forest Lawn Memorial Park in Glendale, California — where MJ is entombed — in preparation for the one year anniversary of the singer’s death.
We’re told the cemetery is expecting thousands of people to show up in the next 24 hours.
Forest Lawn officials tell us they’re already preparing security efforts to keep the crowds under control.
Dr. Conrad Murray — Saved by Secret Money Man
Originally posted 19 minutes ago by TMZ Staff
Dr. Conrad Murray won’t lose his Nevada medical license … because a fat-pocketed friend lent Murray nearly $16k to pay off his child support debt.
As we previously reported, Murray was behind on child support and under Nevada law the Medical Board can yank the license of a deadbeat dad doc.
We’re told Murray got a friend to ante up the cash … we do not know his/her identity.
Under the terms of the settlement, Murray will have to pay $1,103 a month to his baby mama to stay current.
And, we’re told, Murray has been getting financial help from a number of patients.
MJ Estate Furious Over Unauthorized Documentary
Originally posted 44 minutes ago by TMZ Staff
Michael Jackson’s estate is lashing out at the people behind a new MJ documentary set to debut in Japan tomorrow — claiming fans are being duped into believing the flick was authorized by Team MJ.
The estate has released a scathing statement claiming the movie is being promoted in a way that is misleading MJ’s fans into believing the film — shot by former MJ confidante Marc Schaffel — was properly authorized.
The estate also makes it clear it doesn’t endorse the flick and none of the profits will benefit MJ’s children. They also note that the movie is not allowed to contain any of Michael’s music.
Schaffel doesn’t appear to be bothered — the above photo was taken moments ago at the movie premier in Tokyo … where Schaffel took the stage and told fans Katherine Jackson sent along her best wishes.
Michael Jackson Estate Threatened with Lawsuit
Originally posted Jun 24th 2010 10:50 AM PDT by TMZ Staff
The co-author of a new book on Michael Jackson has threatened to sue the Michael Jackson estate for allegedly trying to discredit the book.
Howard Mann ( center, along with Katherine and two others) — a businessman who has made money on nude online gambling and nude wrestling — hooked up with Katherine Jackson to create a coffee table book called “Never Can Say Goodbye.”
Estate lawyer Howard Weitzman told TMZ earlier this week, Mann had no right “to exploit any estate assets” and would take “whatever action is necessary to prevent him from unlawfully profiting.”
Mann’s attorney now tells TMZ, “The comments by the lawyers for the Estate of Michael Jackson are designed to create fear and ambiguity and may impede our ability to maximize the profits that Vintage Pop (the publisher) and the beneficiaries of the Estate are entitled to enjoy. These actions are torturous interference and will NOT be accepted and will result [in] litigation to recover the damages against our company.”
Weitzman tells TMZ, “The estate will continue to protect its assets when appropriate,” adding, “If Mr. Mann or his attorney want to communicate with me, they can contact me directly.”
Joe Jackson Linked to Unauthorized MJ Memorial
Originally posted Jun 24th 2010 8:34 AM PDT by TMZ Staff
The Michael Jackson estate and others have been asking … who’s behind an unauthorized MJ memorial set to go down Saturday night at the Beverly Hilton — now, there’s a smoking gun pointed at Joe Jackson.
As we previously reported, the bash is being thrown by a website called VoicePlate.com — but no one could identify the person responsible for pulling the strings. It’s also unclear who convinced Katherine Jackson to record that awkward, scripted promotional video for the tribute.
But now — a clue … and it all has to do with the featured entertainment at the MJ tribute … a band called the Chi-Lites — they had a couple of hits in the ’70s, including “Oh Girl” and “Have You Seen Her.”
If you recall, just days after MJ died … Joe Jackson shamelessly held a news conference to introduce his new business partner, Marshall Thompson … a member of the Chi-Lites.
Think it’s coincidence that the band got a brand new gig … at an MJ event?
Didn’t think so.
Jackson Compound on Lockdown for Anniversary
Originally posted Jun 24th 2010 12:45 AM PDT by TMZ Staff
The Jackson family compound in Encino is gonna be locked down tighter than Fort Knox on the anniversary ofMichael Jackson‘s death … because we’re told the LAPD is preparing for an onslaught of MJ faithful.
According to the LAPD, there will be 30 to 40 officers — some uniformed, some undercover — patrolling a one block area around the Jackson home on Friday, Saturday, and Sunday.
We’re also told other precautions will be taken — including “no parking” signs around the house and a ban on all MJ merch sales in the area … the same rules that will be enforced at Forest Lawn Cemetery.
The LAPD says 3,000 to 4,000 shirts were confiscated last year after Michael died — so you’ve been warned.
The Hijacking of the Jackson Estate
I came across these videos in http://lilwendy.wordpress.com/. Makes you really think…
Michael Jackson "Death" Investigation 