In Business This Week
MICHAEL JACKSON, A DIVISION OF SONY
Sony loves Michael Jackson so dearly that the Japanese electronics giant has given the pop star his very own company, Jackson Entertainment Complex. The new entity is meant to channel the singer's talents into film, television, and electronic publishing as well as music--a neat fit with newly formed Sony Software.
Jackson is making a feature film for Sony's Columbia Pictures. And his new album--his first since Bad in 1986--will be accompanied by related short films directed by the likes of David Lynch and Sir Richard Attenborough. Jackson also gets his own record label, Nation Records. Industry execs say the deal could be worth at least $60 million to Jackson. Sony says the venture could gross $1 billion.EDITED BY HARRIS COLLINGWOOD