Michael Jackson Estate Pulls In $275M - TheStreet

Michael Jackson Estate Pulls In $275M

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.
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NEW YORK (

TheStreet

) -- 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.

According to

CNBC

, 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

Sony

(SNE) - Get Report

in a $200 million, 10-album deal over the next seven years,

CNBC

reports.

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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