NEW YORK (
) -- Since Michael Jackson's death a year ago, sales of the pop singer's records and merchandise have generated between $250 million and $275 million, reports say.
, which cited sources close to the Michael Jackson estate, debts that once totaled $500 million haven been reduced to about $400 million and the figure will soon be cut to $350 million.
The biggest payoff for the estate over the past year has been $125 million paid upfront by
in a $200 million, 10-album deal over the next seven years,
Jackson's death on June 25, 2009, from cardiac arrest was drug-related and it has been ruled a homicide. Conrad Murray, Jackson's personal doctor, was charged in February with involuntary manslaughter.
-- Written by Joseph Woelfel in New York.
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