Michael Jackson will launch his new MJJ/Epic record label with music from “Free Willy,” Warner Bros.’ upcoming family drama.Jackson will be singing the film’s theme song, “Will You Be There,” which MJJ will release June 16. It will be accompanied by a musicvideo with Jackson interspersing scenes from the film. The soundtrack, due out July 13, will include the film’s score by Basil Poledouris, as well as songs by SWV, NKOTB, 3T’s and the Funky Poets. “Free Willy” is the story of a boy, played by newcomer Jason James Richter, whose troubled past fades away when he befriends Willy, an Orca whale in an aquatic park. When the boy learns Willy is being mistreated, he plans to break the whale out of captivity and set him free. WB releases the pic July 16. “Willy” is helmed by Simon Wincer and produced by Jennie Lew Tugend and Lauren Shuler-Donner. Exec producers are Richard Donner and Arnon Milchan, and the screenplay is by Keith A. Walker and Corey Blechman.