Prince Jackson joins the Estate
May 8, 2021 6:07:40 GMT
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Post by respect77 on May 8, 2021 6:07:40 GMT
Michael Jackson's son is joining the family business after executors of his famous father's estate asked the court to allow them to hire him as a special consultant.
According to legal documents, obtained by The Blast, the MJ estate is asking that Prince Jackson be brought in to work on "designated projects" working alongside the estate managing his father's business.
As you know, the executors of Jackson's estate -- John Branca and John McClain -- have worked alongside his family over the past decade resurrecting the MJ business while his children were still minors.
See The Details!
The request by MJ's estate comes amongst another request to raise the compensation for the executors of the estate, after they pointed out just how hard it is to manage the entire Michael Jackson business.
As for Prince, according to the document, "The managers believe it would be in the best interest of the Estate and the MJJ Business for Michael Jackson’s son, Prince, to be employed by the Estate and/or one of its entities as a consultant on certain designated projects."
As for his compensation, it reads, "Therefore, Petitioners seek this Court’s order authorizing them to employ Prince as a consultant on such terms and for such purposes as shall be agreed upon by the Managers and Prince."
Prince Jackson Will Be In Charge Of 'Designated Projects' For MJ's Estate
It should be noted, Prince is a graduate with honors from LMU University and is highly qualified for the position. Not to mention, he is MJ's actual son and can help navigate future events for the estate.
In the filing, the executors describe just how difficult and massive the Jackson business is since his death, and how much they had to work to get it back to a profitable venture. "Among other things, the Managers renegotiated and restructured the more than $400 million debt that encumbered Michael’s most significant assets, thus enabling the Managers to completely satisfy the debt without the selling any of Michael’s assets," they wrote.
The executors of MJ's estate point out, in the filing, managing a deceased artist is a lot harder than managing a living one.
"A living artist promotes his/her brand by creating new music, touring, making other personal appearances, and engaging in social media activations and all other ancillary activities required to build one’s career. The manager of a deceased artist cannot rely on the artist to personally promote the artist’s brand, rather the manager must do it," they write.
For now, they are asking for compensation that "aligns more consistently with industry standards and more accurately reflects the expertise, time, and efforts necessary to operate a music/entertainment business of the size and extent the MJJ Business."
It's unclear which "projects" Prince will be working on in the beginning, but it's clear MJ's fans will be PUMPED his son is now working within the family business!
theblast.com/6489179/michael-jacksons-son-prince-is-joining-the-family-business
According to legal documents, obtained by The Blast, the MJ estate is asking that Prince Jackson be brought in to work on "designated projects" working alongside the estate managing his father's business.
As you know, the executors of Jackson's estate -- John Branca and John McClain -- have worked alongside his family over the past decade resurrecting the MJ business while his children were still minors.
See The Details!
The request by MJ's estate comes amongst another request to raise the compensation for the executors of the estate, after they pointed out just how hard it is to manage the entire Michael Jackson business.
As for Prince, according to the document, "The managers believe it would be in the best interest of the Estate and the MJJ Business for Michael Jackson’s son, Prince, to be employed by the Estate and/or one of its entities as a consultant on certain designated projects."
As for his compensation, it reads, "Therefore, Petitioners seek this Court’s order authorizing them to employ Prince as a consultant on such terms and for such purposes as shall be agreed upon by the Managers and Prince."
Prince Jackson Will Be In Charge Of 'Designated Projects' For MJ's Estate
It should be noted, Prince is a graduate with honors from LMU University and is highly qualified for the position. Not to mention, he is MJ's actual son and can help navigate future events for the estate.
In the filing, the executors describe just how difficult and massive the Jackson business is since his death, and how much they had to work to get it back to a profitable venture. "Among other things, the Managers renegotiated and restructured the more than $400 million debt that encumbered Michael’s most significant assets, thus enabling the Managers to completely satisfy the debt without the selling any of Michael’s assets," they wrote.
The executors of MJ's estate point out, in the filing, managing a deceased artist is a lot harder than managing a living one.
"A living artist promotes his/her brand by creating new music, touring, making other personal appearances, and engaging in social media activations and all other ancillary activities required to build one’s career. The manager of a deceased artist cannot rely on the artist to personally promote the artist’s brand, rather the manager must do it," they write.
For now, they are asking for compensation that "aligns more consistently with industry standards and more accurately reflects the expertise, time, and efforts necessary to operate a music/entertainment business of the size and extent the MJJ Business."
It's unclear which "projects" Prince will be working on in the beginning, but it's clear MJ's fans will be PUMPED his son is now working within the family business!
theblast.com/6489179/michael-jacksons-son-prince-is-joining-the-family-business
