Michael Jackson Estate Rakes In $310 Million To Date

Singer left behind more than $400 million in debt.


Michael Jackson
Photo: Time Life Pictures/DMI/Time Life Pictures/Getty Im

Between album sales, movie profits, licensing arrangements and lucrative deals for Cirque du Soleil shows, the estate of late King of Pop Michael Jackson has raked in more than $300 million since the singer's shocking death in June 2009.

According to TMZ, legal documents released on Thursday reveal that executors of MJ's estate have managed to make a major dent in the more than $400 million in debt that Jackson owed at the time of his death.

The first accounting from the executors shows that they have already spent around $159 million paying back various debts, income taxes and other expenses, which include providing support for the pop star's mother, Katherine Jackson, as well as his three young children.

"Although there remain unresolved creditor claims, pending litigation and additional challenging business, tax and legal issues, and the estate is not yet in a condition to be closed, the executors have made substantial progress in reducing the estate's debt," the documents state, according to a Reuters report. Two of Jackson's longtime confidants, attorney John Branca and music executive John McClain, were named as administrators in a will sign by the pop icon.

In addition to paying to make "substantial improvements" to the Jackson family's Havenhurst estate in Encino, California, the executors also spent an undetermined amount of money on "last illness and funeral and memorial service expenses." Those costs included a $900,000 payment to the Forest Lawn Memorial cemetery where Jackson is buried and $35,000 on expenses described as "costume for memorial."

TMZ reported that not only did the famously cash-strapped Jackson have more than $400 million in debt, but his estate also owed more than $40 million to concert promoter AEG tied to the scuttled This Is It Tour, for which MJ was rehearsing when he died unexpectedly. They've also paid $27.2 million in taxes and $4 million in mortgage payments on Jackson's properties.

Despite the solid sales of the Michael album and millions of units of the singer's back catalog being sold, as well as the box office of the "This Is It" movie and DVD sales, the estate is not nearly out of the woods. TMZ noted that the administrators have received more than 65 creditors' claims, some of which are subject to "extremely high" interest rates, and there are several outstanding lawsuits against the estate in several countries.

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Source: http://www.mtv.com/news/articles/1658290/michael-jackson-estate.jhtml

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Happy Birthday Justin Bieber!

justin Bieber and Selena Gomez

On Tuesday (March 1), Justin Bieber enjoyed a loved-up outing withJustin Bieber in Beverly Hills for the romantic birthday excursion. The cute couple spent the 17th b-day at a local shopping center as they picked up purchases at Dolce & Gabbana and Louis Vuitton - where the two shared a few intimate hugs giving Justin a big birthday boy smile. Enjoy the pictures of Justin Bieber celebrating his 17th birthday with Selena Gomez. [gallery=753]

Source: http://www.celebritygossiphollywood.com/general/celebrity-couples/happy-birthday-justin-bieber/

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Uma Thurman: Robert Pattinson Is "Obviously Very Handsome"

Uma Thurman: Robert Pattinson Is "Obviously Very Handsome"

Robert Pattinson can add one more to his throes of female fans. It seems the Twilight star has made quite the impression on Uma Thurman, his Bel Ami costar, as she recently gushed about him in a new interview.

"He's extremely dashing, like an old-world movie star," Thurman, 40, told MTV. "He's incredibly concrete in his presence...and is obviously very handsome."

And Thurman is sure that Pattinson has what it takes to sustain a solid career in Hollywood, long after The Twilight Saga has been put to bed.

"I think he's going to be a really serious actor," the actress said of the 24-year-old superstar. "He's a really good actor."

But has Thurman gotten a good look at more than just R-Pattz's talent? In a recent interview, the actor teased that we would all get a glimpse of his bottom in the new film. So, what does Uma have to say about that hot commodity?

"I didn't see his bum once!" she insisted, laughing. "So I can't tell you about it. I don't know what happened to him with other characters, I have no idea, to tell you the truth."

But all hope is not lost. "I haven't seen the film cut together, so there may or may not be Robert's bum."

Source: http://www.ivillage.com/uma-thurman-robert-pattinson-obviously-very-handsome/1-a-335018

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'Superman' Reboot Taps Amy Adams To Play Lois Lane

Oscar-nominated actress will play the 'smart, tough, funny' journalist, director Zack Snyder announces.
By Aly Semigran


Amy Adams
Photo: Jason Merritt/ Getty Images

Clark Kent, meet your Lois Lane.

After weeks of guessing who would play the Man of Steel's leading lady in the upcoming "Superman" reboot, Warner Bros. and Legendary Pictures, along with director Zack Snyder announced on Sunday (March 27) that Academy Award-nominated actress Amy Adams will take on the iconic role.

Snyder, whose latest endeavor, "Sucker Punch," opened in second place at the box office this weekend, said in a statement, "Second only to Superman himself, the question of who will play Lois Lane is arguably what fans have been most curious about. So we are excited to announce the casting of Amy Adams, one of the most versatile and respected actresses in films today. Amy has the talent to capture all of the qualities we love about Lois: smart, tough, funny, warm, ambitious and, of course, beautiful."

Adams, 36, whose versatile résumé includes "Enchanted," "Talladega Nights," "Doubt" and, most recently, "The Fighter," which earned her an Oscar nod, will star opposite the new Superman, Henry Cavill, who is nine years her junior.

But age clearly didn't factor into Snyder's decision, as he told the Los Angeles Times, "There was a big, giant search for Lois. For us it was a big thing and obviously a really important role. We did a lot of auditioning but we had this meeting with Amy Adams and after that I just felt she was perfect for it."

Snyder, who reached out to Adams regarding the "Superman" news via phone while in Paris on Sunday, went on to explain why the Lois Lane role will be "a linchpin" for his vision for the tentatively titled "Man of Steel."

"It goes back to what I've said about Superman and making him really understandable for today. What's important to us is making him relevant and real and making him empathetic to today's audience so that we understand the decisions he makes," he said, "That applies to Lois as well. She has to be in the same universe as him [in tone and substance]."

Adams and Cavill will be joined by Diane Lane and Kevin Costner, who will play Clark Kent's adoptive parents.

What do you think of Amy Adams being cast as Lois Lane in the new "Superman" movie? Tell us in the comments!

For breaking news and previews of the latest comic book movies — updated around the clock — visit SplashPage.MTV.com.

Source: http://www.mtv.com/news/articles/1660738/superman-reboot-taps-amy-adams-play-lois-lane.jhtml

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Myleene Klass Welcomes Baby No. 2: Hero Harper

Congratulations are in order for Myleene Klass and fiance Graham Quinn!

The 32-year-old TV presenter and former Hear'Say singer welcomed her second child, a daughter named Hero Harper, at 5.02pm on Friday (March 25). Myleene announced the happy news on her website.

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Source: http://celebritybabyscoop.com/2011/03/26/myleene-klass-welcomes-baby-no-2-hero-harper

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Lady Gaga, Beyonce, Other Stars Make Forbes' Top-Earning Of 2010 List

Taylor Swift, Britney Spears and Miley Cyrus also made the magazine's top 20 list of Hollywood moneymakers.
By Jayson Rodriguez


Beyoncé
Photo: Columbia/Music World

On the East Coast, revenue streams are slowly rising as banks are still cratering and trying to recover from the recession. But out West, money ain't a thing, as Jermaine Dupri and Jay-Z once rapped.

Forbes has released their list of Hollywood's 20 Highest Earners of 2010, with Beyoncé, Lady Gaga and Miley Cyrus among those rubbing elbows with the likes of power players like Oprah Winfrey.

The venerable talk-show host topped the list with a whopping $315 million haul. Winfrey's earnings were generated for the most part by her multimedia deals, which include a syndication deal for her TV show, a magazine and her soon-to-be-launched network.

"Avatar" creator James Cameron came in second, more than $100 million behind Winfrey, with a tally of $210 million. Director and playwright Tyler Perry ($125 million), blockbuster movie producer Michael Bay ($120 million) and golfer Tiger Woods ($105 million) rounded out the top five.

Beyoncé was the only pop star to break the top 10. The "Single Ladies" superstar landed at #9, sandwiched between George Lucas and Dr. Phil. Mrs. Carter, whose hubby, Jay-Z, was named Hip-Hop's Cash King by Forbes in August with a tally of $63 million, pulled down $87 million over the past 12 months.

The blond-haired trio of Britney Spears ($64 million), Lady Gaga ($62 million) and Madonna ($58 million) made their mark on the list at numbers 13, 14 and 15, respectively.

Pop tarts Miley Cyrus and Taylor Swift capped the list. The young stars placed at 18 and 19 on the list, with Disney star Cyrus pocketing $48 million, and country singer Swift depositing $45 million into her bank account.

Hollywood's 20 highest-earning men and women of 2010, according to Forbes:

1. Oprah Winfrey, $315 million
2. James Cameron, $210 million
3. Tyler Perry, $125 million
4. Michael Bay, $120 million
5. Tiger Woods, $105 million
6. Jerry Bruckheimer, $100 million
7. Steven Spielberg, $100 million
8. George Lucas, $95 million
9. Beyoncé, $87 million
10. Dr. Phil, $80 million
11. Simon Cowell, $80 million
12. Jerry Seinfeld, $75 million
13. Britney Spears, $64 million
14. Lady Gaga, $62 million
15. Madonna, $58 million
16. Sandra Bullock, $56 million
17. Ellen DeGeneres, $55 million
18. Miley Cyrus, $48 million
19. Taylor Swift, $45 million
20. Judge Judy Sheindlin, $45 million

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Source: http://www.mtv.com/news/articles/1654947/lady-gaga-beyonce-other-stars-make-forbes-topearning-2010-list.jhtml

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