Jackson pacts with 2 Seas

Michael Jackson is recording an album that will be released on a label owned by the son of Bahrain’s king.

Label 2 Seas Records, owned by Sheik Abdulla bin Hamad Al Khalifa, said Tuesday that it had signed an exclusive recording agreement with Jackson, and the new album is tentatively scheduled for release in late 2007.

Jackson moved to Bahrain last year. Label also plans to release Jackson’s long-promised Hurricane Katrina benefit single, “I Have This Dream.”

British music exec Guy Holmes was named company CEO. He will oversee the making of the new album.

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