Aug 6 (IBNS) Columbia Pictures and music concert promoter AEG Live have inked deal to produce a movie on the life of late King of Pop Michael Jackson using video of his “This Is It” concert.

The videos are those of rehearsals taken days before the King of Pop died in June, according to court documents, it was reported by Hollywood Reporter.

The deal must be approved by a Los Angeles Superior Court judge, when it comes up fpr hearing Monday. AEG Live spearheaded the deal between Columbia, a division of Sony Pictures Entertainment, and executors of Jackson’s will.

Details of the movie agreement, and the amount of $60 million in revenue that Columbia had agreed to pay for the film rights, were released in court papers.

The profits of the film will be shard by Jackson’s estate and AEG Live, which is run by Denver billionaire Philip Anschutz. The estate will be getting 90% while AEG Live will settle for 10 percent if the court gives a green signal.

Both Columbia and AEG Live have declined to comment on the issue but media reports have claimed since last month that there might be a possible movie deal using the more than 100 hours of rehearsal footage AEG Live shot as the “Thriller” singer prepared for his come back show. It would have comprised 50 shows in London but he died suddenly of cardiac arrest in Los Angeles, June 25, days before the shows were to begin.