Jackson rehearsal footage 'could raise millions'
A 30-second snippet of Michael Jackson rehearsing two days before his death was released, part of more than 100 hours of footage that could be turned into live albums, a movie and a pay-per-view special.
The material, along with possible insurance proceeds and ticket sales to memorabilia collectors, could help benefit Jackson’s estate, burdened by an estimated $400m (€285m) in debt.
Randy Phillips, president and chief executive officer of concert promoter AEG Live, said “we could probably raise hundreds of millions of dollars just on the stuff we have worldwide”.
Jackson had been rehearsing for shows in London.
The clip released showed Jackson dancing and singing to 'They Don’t Really Care About Us' on June 23 during a rehearsal at Staples Centre.
Meanwhile Phillips said insurance will help cover any losses on Jackson's 50-concert London residency if the pop star died accidentally, including of a drug overdose, but not if he died of natural causes.
Phillips said the company took out $17.5m (€12.5m) in insurance coverage through Lloyd’s of London.
That would still fall short of the $25m to $30m (€18m to €21.5m) Phillips said AEG Live spent on Jackson’s advance, producing the show, covering some of Jackson’s debts, and paying his staff and rent.
