Jackson estate signs $250 million record deal – reports

LONDON (CNNMoney.com) The administrators of Michael Jackson’s estate and Sony Music Entertainment have reached a recording deal valued at as much as $250 million, according to published reports.

The deal to distribute 10 albums over seven years is being heralded as the most profitable recording contract ever and guarantees Jackson’s estate $200 million, according to The Wall Street Journal.

The agreement covers unreleased recordings, DVDs and possibly other projects such as video games, reports said.