Branca keeps eye on Michael Jackson’s money, legacy
As co-executor of Jackson’s will, John Branca
chooses to ignore the erupting dramas and personal attacks and keeps his
eye on the future, which he says belongs to Jackson’s mother and
children and to the pop star’s musical legacy.
He and co-executor John McClain have been
successfully pursuing projects to pay off a mountain of debt left by the
superstar, to assure the financial future of his three children and to
guarantee that Jackson’s music will live forever.
“When Michael Jackson died, he was near
bankruptcy,” said Branca, suggesting the future for his three young
children was uncertain. “Now we know the kids will be OK.”
Branca sat down recently with The Associated
Press to discuss the current state of the Jackson estate and projects to
preserve Jackson’s image as the King of Pop. But he resolutely refused
to address the elephant in the room — recent attacks on him and McClain
by some Jackson siblings who were left out of their brother’s will.
They sent a lengthy letter that became public
accusing the executors of deceit and manipulation of their mother and
claiming that Jackson’s will was a fraud. They have not taken any court
action and legal experts say the time to challenge the will, which
disinherited them, is long past.
Branca and McClain issued a statement calling the
accusations “false and defamatory,” adding “we are especially
disheartened that they come at a time when remarkable progress is being
made to secure the financial future of his children ...”
Secure in his knowledge that all four of
Jackson’s wills named him as executor, Branca continues to make deals
for the Jackson estate that are generating millions in revenue. This
week, they announced an agreement with Sony/ATV Music Publishing to
administer Jackson’s Mijac Music catalog, which includes such hits as
“Beat It” and “Billie Jean.” The deal is expected to generate enough
revenues to pay off a remaining $5 million loan by year’s end.
Since Jackson’s death on June 25, 2009, Branca
said the singer’s personal debt of $200 million has been paid off and
another $300 million tied to his ownership of the Sony and ATV catalogs
has been renegotiated.
“Michael had a will and a trust and that’s what we follow,” he said.
The estate pays Mrs. Jackson $70,000 a month for
the children’s support, pays the rent on their mansion in Calabasas, and
is picking up bills for other expenses including renovation of their
Encino home.
Branca’s AP interview was his indirect response
to accusations by Janet, Jermaine, Randy and Rebbie Jackson that the
estate was being mishandled. Jermaine later disavowed the incendiary
letter and called for peace in the family. But Janet, Randy and Rebbie
fired back with a letter of their own reiterating their complaints.
Brimming with excitement, Branca spoke of
upcoming ventures he thinks would have delighted Jackson, especially a
permanent Jackson-themed extravaganza on the Las Vegas Strip. It comes
on the heels of the Cirque du Soleil Jackson tribute show, “Immortal:
The World Tour.”
“The Lion King” theater at the Mandalay Bay Hotel
is being rebuilt to house the still untitled show, also a Cirque du
Soleil production, which is set to open May 23, 2013.
“It will be highly theatrical and completely
different from the arena show, which was more of a concert,” Branca
said. “We will have the opportunity to create something special and
ground-breaking.”
Declining to reveal all of the technical wizardry planned, he said, “We’ve got all kinds of tricks up our sleeves.”
Every seat will have its own speakers, while the
walls and ceiling will be used to create “a totally immersive experience
for the audience,” he said.
Unlike the touring show, there will be no live band and all music will come from remixes of Jackson’s recordings.
Branca and co-executor McClain, a reclusive
recording executive, say they understand Jackson’s desires to take care
of his mother and children — Prince, Paris and Blanket — financially and
keep his music alive.
“We feel Michael entrusted us with his legacy and
with the future of his mother and children,” Branca said. “We’re
honored and proud and passionate about celebrating Michael. It’s a labor
of love for us. We love Michael.”
Branca met Jackson in 1980 when both were just
starting out. They would go on to legendary success together but there
were also some rocky times. During more than two decades together, they
had two three-year periods of estrangement over business disagreements.
Branca was rehired by Jackson a month before he
died, with instructions to draft an agenda for future business deals.
Branca presented the plan a week before Jackson died and it has been the
roadmap for the estate’s posthumous enterprises.
In addition to the upcoming Las Vegas show, a new
album and a concert DVD will be released soon celebrating the 25th
anniversary of Jackson’s “BAD” album. Then a two-hour documentary by
acclaimed filmmaker Spike Lee on the making of “BAD” will show at the
Toronto and Venice film festivals next month.
The anniversary promotions include a deal with Pepsi to put silhouettes of Jackson on a billion cans of soda in 20 countries.
And this week, the Cirque du Soleil traveling show begins an international tour to Mexico, Europe and perhaps Asia.
