A few weeks ago, Sony 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 and the Michael Jackson estate.
Variety reports that on Monday, a Los Angeles Superior Court Judge approved the deal. Sony will move forward with This Is It, which has a scheduled release date of October 30. Kenny Ortega, who directed High School Musical, will helm the project, and Randy Phillips and Paul Gongaware of AEG Live will co-produce.
Select portions of the movie will be in 3-D. Sony Pictures chairman-CEO Michael Lynton spoke briefly about the project:
This historic recording of the last time [Jackson] sang and danced on stage shows the legendary artist in an incredibly powerful way, with crystal clear images and sound.