Sony Corporations motion picture studio has bid $50 million dollars
to get the universal distribution rights to a movie based on rehearsal
footage for Michael Jackson’s “This Is It” comeback concert series,
according to a someone familiar with the offer.

The individual said Monday that the bid came after several studios,
including Paramount, Universal, 20th Century Fox and Warner Bros.,
were shown footage beginning early last week. The person spoke
upon stipulation of namelessness since the bidding hadn’t been
completed.

The winning studio would develop the movie with Jackson’s
concert promoter, AEG Live, and his estate.

It would go a long way to assisting AEG Live recover some of
the $30 to $32 million it spent producing the concert prior to
Jackson’s death June 25.

Sony Pictures has a leg abreast of other bidders because
Sony Music distributes Michael Jackson’s music and is in
a 50-50 partnership with his estate in Sony/ATV Music
Publishing.

The bidding was reported earlier by the Los Angeles Times
and industry blogger Nikki Finke.

The estate and AEG Live are also negotiating with numerous
TV networks and pay-per-view outlets about a TV special that
would be a stage show featuring Jackson’s music and dance.
It would also be directed by “This Is It” director Kenny Ortega.

The asking price being discussed for the rights to present the
TV special is also in the tens of millions of dollars.

General Electric Co.’s NBC has been in negotiation about the
TV show, but the concept, air date and cost for the rights
hasn’t been finalized, said NBC spokeswoman Rebecca
Marks.

“We have no deal for the rights to the Michael Jackson
special,” Rebecca said.