Initial Public Offering: Michael Jackson then a Tour?
Michael has tour dates in London now for 2009. However, He is still largely in debt to Sony/ATV as they have financially bailed him out multiple times. In interviews for the Wall Street Journal, however, his bankers didn’t seem concerned but instead confident about finances, one saying, “He’s got plenty of capital.” Even so, the singer is currently scrambling to sell his bejeweled jackets, socks that may have been moonwalked in, etc. (see below)
Recently Jackson hinted at extending his tour past London. Even if he only stayed in England he would still take $30-$50 million a show. If he continued the tour, he stands to make up to $400 million dollars in the next four years. This would be enough to payback the loans that Sony took out from Barclay’s on Jackson’s behalf around three years ago.
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