Jackson’s death triggers billion dollar bonanza
LOS ANGELES — Soaring music sales, a blockbuster movie and an array of commercial spin-offs: Michael Jackson’s demise has lent weight to the wry showbusiness maxim that death is the ultimate career move. In the final years of his life, Jackson’s finances were widely reported to be in chaos, with the singer facing foreclosure on his famed Neverland Ranch and struggling with debts of roughly $500 million. However in the 12 months since Jackson’s death on June 25 last year, the King of Pop’s empire has witnessed a money-spinning resurgence, generating revenues estimated at more than $1 billion, according to one report. Jackson’s estate has paid off more than half of the singer’s debts and is likely to put his affairs back into the black in the coming year. Source: The Daily Tribune URL: http://www.tribuneonline.org/commentary/20100624com3.html |
|
0 comments
Post a Comment