da fox news
http://www.foxnews.com/story/0,2933,64614,00.html
Jacko's Backo
Michael Jackson to Start New Record Label
Jacko's backo. He's starting a new record label with the backing of a company that changed its name today from ID Medical Group to Opus Media.
A music business Web site, Hitsdailydouble.com, speculated that Jackson might be involved when Opus issued a press release today stating that they'd gone into business with a major pop star.
But a check by Fox 411 into the financial filings of ID Medical shows that back in May, when Jackson was freaking out about money and Tommy Mottola, he was busy making the deal with Opus Media's Robert Gordon.
From ID Medical's May SEC filing:
"The Label Agreement contemplates that ToolTrust and MJJ Ventures will form a California Limited Liability Company to operate a music label, tentatively called "Neverland Records." ...
"The Label Agreement provides recording artist Michael J. Jackson with discretion to grant or deny approval of any artist seeking to sign a recording agreement. Mr. Jackson also shall have final approval of all creative elements in connection with master recordings and videos. Ultimately, however, Mr. Jackson's level of participation with the music label (or none at all) shall be determined at his sole discretion. MJJ Ventures may "opt-out" of the Label Agreement if the music label is unable to secure a distribution deal or the music label has not substantially satisfied any material goals set forth in its business plan. Mr. Jackson may opt-out for any reason after three years. In any such case, ToolTrust is obligated to buy out MJJ venture's interest in the music label. "
What's very strange about this endeavor is that ID Medical may be risking its profitable online medical identification business if Jackson's venture proves to be a failure.
According to the same filing:
"The Company is in immediate need of funding to complete the music label venture described above and to carry out day-to-day operations, including funding of the online medical records business. If the Company does not secure financing to sufficiently fund operations, it may lose all amounts paid to MJJ Ventures. There can be no assurance that financing will be available when needed or on terms acceptable to the Company. There can be no assurance that the Company will be able to continue as a going concern, or achieve material revenues and profitable operations."
And here's another update on Michael Jackson's new label: Word is that Jackson's producer Rodney Jerkins will be in charge of the label, which may be distributed by Clive Davis's J Records.
Gordon, the CEO of Opus Media, is excited about his new endeavor with the weird King of Pop.
They met when Jackson tried to get Gordon to direct market his charity single "What More Can I Give?" last year. "Michael had the single and no one at his record company would cooperate and release it," Gordon said. "McDonald's had pledged $30 million to market it, but Sony didn't want it to interfere with Michael's album."
At last we have an answer for what happened to the infamous single. This column reported the McDonald's connection exclusively last October.
"We work with a lot of non profits," Gordon continued. "We have access to over a million people we can direct market to. One conversation led to another, and we realized we could market records to those lists ourselves."
Neverland Records will operate on two levels -- as direct marketing and in record stores, distributed by Clive Davis's J Records. Rodney Jerkins will run the label for Jackson.
Gordon has not met Jackson, by the way. All the deals were done through Jackson's agents and lawyers.
And Jacko will not be the only artist on Neverland. "We're talking to three or four platinum selling acts," Gordon said. "Established stars who want to be part of this plan."
Gordon said he didn't know much about Jackson's financial situation but it didn't matter since an investment bank has signed on to raise the $35 million capitalization.
Stay tuned, because you know it will only get more interesting.
praticamente dice che sembra che mj stia aprendo una nuova casa disc ografica, qualcosa centra pure rodney jerkins, non ho capito molto però...mi pare che non sarà una nuocva casa discografica mnata dal nulla ma dalla fusione di altre... mi pare
inoltre sembra che mj si sia ben tuttelato da vari cavilli, che sarà direttamente, se lo vorrà, conivolto nella scelta degli artisti che faranno parte dell'etichetta e nel marketing e creazioni album e dischi
più altri cavilli....
se qualcuno capisce meglio di me spieghi [SM=x47915]
Ultriori dettagli da MJNI
MJNI Exclusive: More Details Emerge Regarding New Label
A source close to the new deal spoke exclusively to MJNI to confirm the news first reported by Fox News columnist Roger Friedman on Tuesday. That news of course revolves around the start-up of a new music label that will be spearheaded by The King of Pop and financed through a deal with Opus Media.
A source tells MNJI that while a contract has yet to be signed with the Clive Davis run J records, the BMG label is expected to make things official by year's end.
Tentatively titled Neverland Records, Michael's new label will be a subsidiary of J, similar to how MJJ Music was set up under Epic Records. Neverland will sign acts and record music (all with the help of uber producer Rodney Jerkins) but all promotional activity (including radio and retail) will be handled by J Records executives and staff. BMG, which distributes all of J’s products, will also handle Neverland's distribution. And yes, Michael's next recording, to follow the release of an upcoming greatest hits package from Sony, will indeed be a Neverland Records product. The new label also has a few yet-to-be-named established artists ready to sign-up.
More details and an official announcement of the deal is expected to come soon. MJNI will of course, keep you posted.
qui dice che praticamente sembra tutto confermato, un portavoce ha affermato direttamente allo staff di MJNI che l'aticolo della fox è veritiero
Questa nuova etichetta di mj, probabilmente nevarland producions, sarà parte della J records, come esempio la mjj music faceva parte della epic
non è stato fatto alcun contratto ma la BMG, che distribuirà il tutto (come la sony distribuisce i prodotti epic, credo), farà un comunicato entro fine anno
il prossimo disco di mj, dopo il box set per la sony, sarà sotto questa nuova etichetta
credo, killah correggimi se sbalgio, che creerà una nuova etichetta, che produrrà dischi, che sarà sotto la j records distribuita dalla BMG
questa etichettà sarà come adesso la mjjmusic sta sotto la epic che viene distribuita dalla sony....
MJJ Fan Site Staff
Gabriele Prandini (mjfan80) Amministratore Michael Jackson Italian Fan Site Forum
Heal The World
Burn all The Tabloids
Just because you read it in a magazine or you see it on tv don't make it factual
[Modificato da mjfan80 04/10/2002 13:10]