Michael Jackson Estate, IRS Still $500M Apart, Post-Trial

Law360 (May 2, 2018, 5:11 PM EDT) -- More than a year after trial, the estate of Michael Jackson and the Internal Revenue Service are down to disputing the value of three assets — the singer’s post-mortem publicity and two trusts — with more than $500 million at issue, according to a post-trial brief filed by the estate Tuesday.

The IRS values Jackson’s right of publicity at $161.3 million. Its expert witness, Weston Anson, based the valuation on five “opportunities” a hypothetical purchaser might use to exploit Jackson’s image: a film; Broadway musical; branded merchandise; themed attractions, such as video games; and a Cirque du Soleil-themed production.

The value...

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