NEW YORK — Even as he battles accusations in court of grave money troubles, the King of Pop is betting a new business partnership with a music-biz vet can help him burnish his finances and his industry reputation.
Michael Jackson is teaming with longtime music exec Charles Koppelman for a new venture in which Koppelman will act as a business adviser in exploiting Jackson’s various musical assets and reinvigorating his recording career.
Move comes just a day before a judge is set to rule on whether to dismiss a $12 million lawsuit filed by a financial adviser who claims Jackson hasn’t paid him for his services and is teetering on the edge of bankruptcy.
Specifics are still limited, but Koppelman said he will work with the mercurial pop star in recording and releasing his next album, as well as staging future concert tours. Exec also will help generate revenues from Jackson’s half-interest in the Sony/ATV publishing catalog as well as his own MIJAC library.
“Michael is going to be at a time in his career where he’s going to be making new music and seeing his fans,” Koppelman told Daily Variety. “I’m working with Michael on his vast publishing holdings, but also on the record side and the concert side.”
Koppelman, along with present EMI Music Publishing head Martin Bandier, co-founded SBK Entertainment, home to Wilson-Phillips and Vanilla Ice, among others. Exec also has held top posts at Columbia Records and EMI. He’s currently head of his own firm, CAK Entertainment.