As previously mentioned, it looks like the Michael Jackson movie will be made. And quickly!

The film will be created from footage of Jackson’s rehearsals for what would have been his upcoming This Is It show. 

Sony Pictures is prepared to pay AEG Live a whopping $60million dollars for rights to the footage, which is projected to hit the silver screen October 30, 2009. 

Ninety percent of the $60mil will go to the Jackson estate, while AEG Live will reap the remaining 10%.  That’s good news for little Prince, Paris, and Blanket Jackson! 

Will U go see the movie on All Hallows Eve??

[Image via Celebrity Vibe.]