Michael Jackson Estate Rakes In $310 Million To Date

Singer left behind more than $400 million in debt.


Michael Jackson
Photo: Time Life Pictures/DMI/Time Life Pictures/Getty Im

Between album sales, movie profits, licensing arrangements and lucrative deals for Cirque du Soleil shows, the estate of late King of Pop Michael Jackson has raked in more than $300 million since the singer's shocking death in June 2009.

According to TMZ, legal documents released on Thursday reveal that executors of MJ's estate have managed to make a major dent in the more than $400 million in debt that Jackson owed at the time of his death.

The first accounting from the executors shows that they have already spent around $159 million paying back various debts, income taxes and other expenses, which include providing support for the pop star's mother, Katherine Jackson, as well as his three young children.

"Although there remain unresolved creditor claims, pending litigation and additional challenging business, tax and legal issues, and the estate is not yet in a condition to be closed, the executors have made substantial progress in reducing the estate's debt," the documents state, according to a Reuters report. Two of Jackson's longtime confidants, attorney John Branca and music executive John McClain, were named as administrators in a will sign by the pop icon.

In addition to paying to make "substantial improvements" to the Jackson family's Havenhurst estate in Encino, California, the executors also spent an undetermined amount of money on "last illness and funeral and memorial service expenses." Those costs included a $900,000 payment to the Forest Lawn Memorial cemetery where Jackson is buried and $35,000 on expenses described as "costume for memorial."

TMZ reported that not only did the famously cash-strapped Jackson have more than $400 million in debt, but his estate also owed more than $40 million to concert promoter AEG tied to the scuttled This Is It Tour, for which MJ was rehearsing when he died unexpectedly. They've also paid $27.2 million in taxes and $4 million in mortgage payments on Jackson's properties.

Despite the solid sales of the Michael album and millions of units of the singer's back catalog being sold, as well as the box office of the "This Is It" movie and DVD sales, the estate is not nearly out of the woods. TMZ noted that the administrators have received more than 65 creditors' claims, some of which are subject to "extremely high" interest rates, and there are several outstanding lawsuits against the estate in several countries.

Related Photos Related Artists

Source: http://www.mtv.com/news/articles/1658290/michael-jackson-estate.jhtml

Sarah Polley Sarah Shahi Sarah Silverman Sarah Wynter Scarlett Chorvat Scarlett Johansson

Michael Jackson's Family Upset With James Durbin Over 'American Idol' Pepsi Quip

'We were shocked to see this,' read the Jacksons' message; Durbin tweeted an apology on Thursday.
By Gil Kaufman


James Durbin performs on "American Idol" on Wednesday
Photo: Michael Becker/ Fox

Some people might argue that it's patently unfair to take rank amateurs, put them on the biggest show on TV and then expose them to potential worldwide ridicule every week. Because it's one thing to tune in to "American Idol" from your living room or play shows at the local wings joint, it's another thing entirely when you get up on that stage and open your mouth with tens of millions watching and listening.

James Durbin learned this lesson the hard way this week when he made what he thought was an innocent crack about not setting himself on fire during his pyro-tastic cover of Elton John's "Saturday Night's Alright (For Fighting)" on Wednesday night.

Asked by host Ryan Seacrest if he was worried about dancing around among the flames shooting up from the piano onstage, Durbin joked, "I have a lot of hairspray in my hair to keep it from jumping around — so much so, the one thing I was worried about was having a 'Pepsi moment.' "

The seemingly innocent crack was a reference to the 1984 on-set accident in which late pop icon Michael Jackson was badly burned during the shooting of a Pepsi commercial by some wayward pyro effects. The serious burns he suffered in the incident allegedly led to his longtime addiction to pain medication and prescription drugs.

The Jackson family was not amused by the quip and sent a statement to TMZ on Thursday.

"We were shocked to see this. It's nothing to make light of and everybody should be focusing on who was responsible for Michael's death," read the statement. Family patriarch Joseph Jackson also was reportedly miffed that "Idol" producers did not cut the comment from the West Coast feed of the show.

Durbin defended his slip-up in a tweet, which has since been scrubbed from the singer's official "Idol" Twitter feed, that explained, "For anyone talkin ... I said pepsi NOT MJ! I have no disrespect for Michael. I grew up singing his art. I guess youll take it how you want it." He later added, "Talkin about MJs passing is too soon. Making a reference to an incident 25 years ago..not too soon. The stab was at pepsi people."

It's worth noting that Pepsi's bitter rival, Coca-Cola, is the main "Idol" sponsor, a fact that Seacrest reminded Durbin of in an awkward moment after the comment on the show.

What did you think of James Durbin's "Pepsi" quip? Tell us in the comments.

Related Artists

Source: http://www.mtv.com/news/articles/1661097/jackson-family-james-durbin-american-idol.jhtml

Shana Hiatt Shania Twain Pamela Anderson Paris Hilton Patricia Velásquez Paula Garcés

Justin Bieber In 3-D Is 'Insane,' Jimmy Fallon Says

'Never Say Never' star is up for Best Jaw Dropping Moment at Sunday's MTV Movie Awards.
By Jocelyn Vena


Jimmy Fallon
Photo: MTV News

Justin Bieber is known for making his fans scream their heads off whenever he's around, so it's no surprise that he's up for Best Jaw Dropping Moment at the 2011 MTV Movie Awards for his 3-D concert spectacular "Never Say Never."

When MTV News caught up with two-time MTV Movie Awards host Jimmy Fallon on the Universal Studios lot, just a stone's throw from the Gibson Amphitheatre where Sunday's show will take place, he explained Bieber's jaw-dropping abilities.

"Bieber is just so jaw-dropping because Bieber in 2-D is enough, [but] Bieber in 3-D? Hold on to your horses," he said of the pop superstar, who is up against James Franco ("127 Hours"), Leonardo DiCaprio and Ellen Page ("Inception"), Natalie Portman ("Black Swan") and Steve-O ("Jackass 3D"). "It's insane."

Fallon, the new host of Universal Studios Hollywood's behind-the-scenes Studio Tour, knows a thing or two about the Movie Awards, since he co-hosted with Kirsten Dunst in 2001 and returned solo in 2005. He's pretty sure fellow "Saturday Night Live" funnyman Jason Sudeikis, who is tapped to host the show this year, has it in the bag when it comes to hosting.

"It's exciting. The Movie Awards are the most fun. Jason Sudeikis is a great host; he's going to be great at it," he said. "I've hosted in the past. I hosted with Kirsten Dunst. It's just a blast. MTV just brings the fun back into movies."

Sudeikis may already know what he's doing, but he did add some words of encouragement for his buddy: "Jason, you know what to do, buddy. Kick some butt over there."

Will wizards, vampires or dream thieves steal the 2011 MTV Movie Awards? Find out June 5, when the 20th annual show airs live at 9 p.m. ET/PT. Tune in at 7:30 p.m. ET/PT that night for the "America's Best Dance Crew" finale and Movie Awards pre-show, loaded with live action from the red carpet, exclusive movie clips and a special edition of "After Hours." To get into the magical movie mood, it's Sneak Peek Week — five days of exclusives and interviews with the casts of "Fright Night," "Horrible Bosses" and more. Check out everything there is to know about Sneak Peek Week, the Movie Awards and the pre-show at MovieAwards.MTV.com!

Check out what Jason Sudeikis had to say about hosting the MTV Movie Awards this year.

Related Videos Related Photos Related Artists

Source: http://www.mtv.com/news/articles/1665029/jimmy-fallon-justin-bieber-never-say-never-jaw-dropping.jhtml

Sarah Wynter Scarlett Chorvat Scarlett Johansson Selita Ebanks Shakara Ledard Shakira

Mary J. Blige Dishes On Her 'Crazy' Led Zeppelin Covers

'I've listened to their music since I was a child,' says the R&B diva, who recorded 'Stairway to Heaven' and 'Whole Lotta Love.'
By James Montgomery, with reporting by Larry Carroll


Mary J. Blige
Photo: MTV News

You wouldn't peg Mary J Blige as the black-light-and-tapestry sort, but, as has become readily apparent in recent weeks, she absolutely loves Led Zeppelin.

In early February, reports began circulating that Blige had re-recorded Zeppelin's classic "Stairway to Heaven," working with Travis Barker, "American Idol" judge Randy Jackson and guitarist Steve Vai on the track, which is slated to appear on the international reissue of her Stronger With Each Tear album, due Monday.

But after she had recorded "Stairway," Blige continued to get the Led out, covering another Zeppelin classic — the thunderous "Whole Lotta Love" — for the album too. And when MTV News caught up with her on the Essence Black Women in Hollywood red carpet, she told us all about channeling her inner Robert Plant for the tracks, a process that came much easier than you'd probably imagine.

"I did Led Zeppelin's 'Stairway to Heaven' and 'Whole Lotta Love' — it's crazy," she said. "I am a Led Zeppelin fan. I'm not going to say I've been to their concerts, but I've listened to their music since I was a child, and it's always moved me, especially 'Stairway to Heaven,' and 'Whole Lotta Love' is just fun."

Blige also said she recorded another new song — a "club record" called "I Can't Wait" — for the re-release. And while it's only slated to hit shelves outside the U.S., she hopes her fans will get a chance to hear all the new songs pretty soon.

"I want y'all to hear it," she laughed.

Related Artists

Source: http://www.mtv.com/news/articles/1633563/mary-j-blige-dishes-on-her-crazy-led-zeppelin-covers.jhtml

Penélope Cruz Pink Piper Perabo Poppy Montgomery Portia de Rossi Rachael Leigh Cook

No hay más Led Zeppelin

A pesar de lo dicho ayer, Peter Mensch, manager del guitarrista Jimmy Page, se retractó totalmente en eso que la banda buscaría un reemplazo al ultragenial Robert Plant para seguir rockeando y toureándola por el mundo tras su show de 2007 en el O2 Arena de Londres por el poder de la música más sexual de la historia. No habrá más Led Zeppelin, no hay planes de que lo haya.

Mensch comentó: "Led Zeppelin se acabó. Si no los vieron en el 2007, se los perdieron. Probaron reemplazantes a Robert Plant, pero nada funcionó. Se acabó. No hay planes para continuar. Francamente, ojalá todos dejaran de hablar al respecto."

Los fans no están nada contentos, especialmente los británicos, considerando los precios delirantes de las entradas del show reunión.

¿Y a ti? ¿Qué te parece todo esto?

Related Artists

Source: http://www.mtv.com/news/articles/1602369/.jhtml

Rachel Nichols Rachel Perry Rachel Weisz Radha Mitchell Raquel Alessi Rebecca Mader