21 July,2009 01:31 PM IST | | PTI
Sony Pictures has offered a whopping USD 50 million to Michael Jackson's concert promoters AEG for the global distribution rights to a film that they are planning to make based on the singer's last rehearsal footage.
Kenny Ortega, the director and choreographer of Jackson's comeback shows 'This Is It', has been in talks with a number of Hollywood studios to make a film on the final days of Jackson, reported E Online.
Sony Pictures plans to produce the feature-length documentary chronicling the final days of 'King of Pop' in partnership with AEG Live and Jackson's estate.
The concert organisers owns over 80 hours of Jackson footage, shot as he prepared for his concerts at London's O2 Arena and three videos Jackson had shot that were going to run during the concerts including an alternate version of the pop icon's now classic "Thriller" video.
AEG is reportedly hoping to get back the USD 30 million they spent setting up the comeback shows through the deal. Other rival studios such as Universal, Fox, Warner Bros and Paramount Pictures are also bidding for distribution rights but Sony is the strongest contender.
AEG is likely to announce the winner as early as this week. Sony has an added advantage as its sister company, Sony Music Entertainment, put out all six of Jackson's solo albums, including top sellers "Off the Wall", "Thriller", "Bad", "Dangerous" and "HIStory", through its Epic label.
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It also co-owns the Beatles catalog with the singer's ATV Publishing.
