Thaindian News

Sony pictures is reportedly close to signing a deal to make a new feature-length Michael Jackson movie from more than 80-hours of recordings taken in the weeks leading up to his death.

The video was filmed by AEG, promoters of Jackson’s planned This Is It comeback tour, that was due to commence at London’s O2 Arena on July 8.

Prior to the entertainers death on June 25, Phillips had said it was planning to release a 3-D film, Thriller 3d, as well as new music releases that could have earned the singer more than $US475 million over the next three years.

According to Variety, Sony is expected to pay AEG more than $US50 million for the worldwide distribution rights for the footage, which will feature three videos – including the alternative Thriller footage that had been shot for the film Phillips had planned.

The new movie is reportedly being edited by High School Musical director Kenny Ortega, who shot the rehearsal footage, with some reports saying it will be released before the end of the year.

According to Variety, clips from the video were shown to all major studios last week, though Sony Music Entertainment, which owns the publishing rights to Jackson’s music collection, was believed to have pole position in the bidding stakes.

However, with the toxicology reports from the postmortem examination of the dead King of Pop yet to be finalized and no official cause of death announced yet, some feel the purchase could prove to be a risky investment.

Given the numerous reports of drug abuse by the singer since his death, some feel the high asking price by AEG might not be returned at the box office if drug abuse is found to have played a leading role in his death.