Footage from Jackson's rehearsals is likely headed for the big screen.
Kenny Ortega, the director of Jackson's show who is best known as the director of "High School Musical," is already beginning to cobble together images of the King of Pop as he prepared for his "This Is It!" concerts that were scheduled to take place in London this summer, Variety reports.The movie could be in theaters before the end of the year, and possibly as early as October.
Ortega shot 80 hours of Jackson perfecting his songs, dance routines and stage show, as well as at least three new music videos that were to be used in the concerts.
One of those is a 3-D version of "Thriller," though it's unclear whether the new feature film would present that segment in 3-D.
A bidding war erupted in Hollywood after concert promoter, AEG Entertainment, shopped the footage to movie studios late last week, blogger Nikki Finke first reported on Deadline Hollywood Daily.
On Monday Sony, which has an inside track because it owns the rights to Jackson's music, was close to sealing the deal, Variety reports.
AEG started the bidding at $50 million according to Finke, and Sony has offered to ante up to acquire the worldwide distribution rights.AEG also showed the footage to Paramount, Universal, 20th Century Fox and Warner Bros.
The winner will produce the movie along with AEG and Jackson's estate.
AEG is also shopping rights to a TV special on Jackson that would air in September, starting at $10 million, as well as TV and video rights to the August 29 tribute concert that is set to include performances by Michael's sister Janet, Justin Timberlake, and others and which would use the band that was rehearsing with Jackson, according to Variety.
AEG Entertainment is hoping to recoup the $30 million it put into staging the concerts, as well as lost box office and other expected sales, including merchandise and food.
Thought the Jackson estate will share the rewards of any deal, his family has no say in who gets the rights to the footage, because none of them were placed in charge of the estate, MSNBC reports.
Jackson's mother, Katherine, is seeking a judge's ruling on whether she can contest the authority of the estate's administrators without triggering a "no contest" clause in the will that would cause her to be disinherieted.
