According to The Hollywood Reporter, Sony has acquired the rights to some 80 hours of rehearsal footage showing Michael Jackson preparing for his upcoming 10-concert London run. The "This Is It" concerts were part of a comeback, which Jackson was planning before his death on June 25. After putting up an initial $50 million dollar bid against Paramount and Universal, Sony finally landed the footage for a $60 million payment to AEG Live.
Sony is now moving forward with a movie that incorporates various sections of the footage. Philip Anschutz, head of AEG, will serve as one of the producers for the movie, which has a planned release date of Friday, October 30.