Jackson confirms new management deal

[patajacko]

Jackson confirms new management deal

Tuesday April 18, 01:29 PM

By WENN


Michael Jackson has confirmed his new manager is English music mogul Guy Holmes.

Jackson has signed a record deal with Two Seas Records, the label he has founded with Bahrain ruler Sheik Abdulla Hamad Al-Khalifa.

Gut Records chairman Holmes has been named Two Seas Records Chief Executive Officer (CEO).

The superstar is currently writing a new album which is due for release late next year.

Jackson, 47, says, "I am incredibly excited about my new venture and I am enjoying being back in the studio making music."

Holmes - who has helped Crazy Frog and Tom Jones top the charts - will oversee Jackson's new album and manage the superstar's other business interests.

source: yahoo.com

[sunsetdriver]

Bahrain label says Michael Jackson plans new album
18 April, 2006
..........................

Holmes is chairman of London-based independent label Gut Records. Calls to Gut Records seeking more information about the deal with Jackson were referred back to the label‘s public relations agency, which declined further comment.

Jackson‘s U.S. spokeswoman, Raymone Bain, said she was not aware of a joint venture between Jackson and Al-Khalifa but said Two Seas had previously been chosen by the star to release his Hurricane Katrina charity single.

A spokesman for Epic Records, the Sony BMG label where Jackson‘s long-running recording contract recently expired, said the music company had no comment on his latest move.

Industry consultant Barry Massarsky said he expects any one of the three remaining major labels would likely be willing to distribute a new album from Jackson.

"They‘re not afraid of anything but failure, and they‘re always looking for the next greatest hit," he told Reuters, adding that Jackson could follow a path similar to that taken by Mariah Carey , who found success at Universal Music after her highly publicized fallout with EMI Group Plc

FOLLOWS LOAN DEAL

News of Jackson‘s latest deal comes days after the singer announced he had reached agreement with creditors to refinance some $270 million in loans secured by his prized stake in the Beatles‘ song catalog.

P - )., which jointly owns publishing rights to more than 200 Beatles songs with Jackson, to buy another 25 percent of the catalog, or half of Jackson‘s stake. The entire catalog is valued at about $1 billion.

Jackson‘s trial on sex abuse charges last year shed new light on the nature of his finances, including prosecution testimony that Jackson had borrowed heavily against his assets to support years of extravagant spending.

He was acquitted by a jury last June of all charges stemming from accusations made by a teenage boy that he had been molested by Jackson at his Neverland Valley Ranch in central California.

But his career as an entertainer and recording artist has been left in shambles.

The fate of the new album will be closely watched by the record industry after "Invincible," Jackson‘s previous comeback bid, registered disappointing U.S. sales of around 2 million copies.

Jackson‘s "Thriller" remains one of the bestselling studio albums of all time with over 26 million U.S. copies sold.

(Additional reporting by Steve Gorman and Sue Zeidler in Los Angeles)

source: localnewsleader.com

Enrico