Michael Jackson's Legacy Includes Tangled Financial Web

When Michael Jackson died unexpectedly last Thursday at age 50, he left behind a tangled Cheap Rosetta Stone web of financial issues that may reverberate for months. His 50 scheduled shows at Londons O2 Arena next month might have grossed a potential $70 million, and would have gone a long way towards staving off the massive debts he owed on his Neverland Ranch and a multitude of legal payments, including his $25 million out-of-court settlement after child-molestation allegations in 1993."Hed been through all these trials and tribulations and wouldnt have been attempting this comeback if his health wasnt good both mentally and physically," says John Scher, a New York promoter who put on three Jackson shows in 1984. "When someones ill and weak, usually they dont try to do something beyond what they think their capabilities are. He took on an absolutely monstrous undertaking 50 shows, and they were talking about a worldwide tour, on and on and on. My assumption was the trials were over with, and he was in a good space."Instead, Jacksons death means the 750,000 fans who bought tickets beginning at $81 apiece for the sold-out shows must receive refunds Cheap Rosetta Stone V3, and the promoter, AEG Live, will have to battle with insurance carriers over the liabilities. Its unclear what type of insurance the shows carried, if any, although AEGs chief executive, Randy Phillips, told Rosetta Stone earlier this year that Jackson passed a five-hour physical exam mandated by insurance carriers "with flying colors." Phillips didnt return calls after Jacksons death, but Billboard magazine estimated AEG has already spent $10 million in payments to the performer and $20 million on an elaborate stage production and the promoter will have to pay its own costs if a pending autopsy report shows Jackson died of a drug overdose or pre-existing conditions. This weekend, an attorney for Jacksons personal physician said AEG owes Dr. Murray $300,000, as well.Also unclear is the state of Jacksons debts. He owns a 50 percent stake in Sony ATV Music Publishing, which takes in $300 million to $500 million a year from Beatles, Bob Dylan, Eminem others songwriting royalties. Jackson had borrowed hundreds of millions of dollars against this investment Rosetta Stone Protuguese, which he owned for more than 20 years, The Wall Street Journal reported earlier this year.

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