8 months after the Lowly Newshound lifted the lid on Michael Jackson's wheelings and dealings, lots has happened but little has changed.
Whilst the Newshound's sources were largely correct, it would seem that certain information proved incorrect, namely that Jackson was moving back into Neverland.
That said, in the world of Michael Jackson, nothing is ever concrete. The star is a law unto himself and it is more than plausible that he intended to move back home then changed his mind on a whim.
The Lowly Newshound did, however, accurately detail one enormous shift in Jackson's team; the firing of his manager Raymone Bain, who was terminated following the near foreclosure of Neverland Ranch.
Shortly after journalist Roger Friedman suggested that Bain's dealings on Jackson's behalf had seen her hiding large sums of money from the star, sources say Jackson became convinced that Bain was stealing from him and terminated her employment.
Jackson spent the next few months with neither a manager nor a spokesperson, raising questions about the legitimacy of his claims to be working on new music. However, in recent months two representatives have spoken on Jackson's behalf, indicating that he may be thinking about going back to work.
The first was a mysterious 'Dr Tohme', who released a statement on Jackson's behalf denying brother Jermaine's claims that he would join the Jacksons on a reunion tour. Tohme did state, however, that Jackson was 'busy working on projects that he looked forward to sharing with his fans in concert soon'.
Jackson's recent refusal to speak about a new album (favouring, instead, the non-specific term 'projects') has raised further questions among his fanbase as to whether the new album he promised in 2007 even exists - and his comments about concerts have been met by even more intense skepticism.
More recently, Celina Aponte of the Outside Organisation issued a statement on Jackson's behalf following his settlement of the civil case brought against him by the Prince of Bahrain.
Incidentally, the Lowly Newshound brought you the lowdown on that case - or at least the Prince's side of the story - back in April of this year when the Prince filed papers in London and New York.
In a shameless display of bias, the mainstream media jumped all over Jackson's decision to settle the case and commentators began speculating that he had done so in order to avoid a 'humiliating public appearance'. In actuality, Jackson looked set to win the case.
The Prince of Bahrain claimed to have signed Jackson legitimately to his own label, 2 Seas Records, for which he said he had paid Jackson a $7million cash advance. However, testimony on Friday 21st November proved devastating for the Prince's case.
In the morning, the Prince's own employee took the stand and was forced to admit that 2 Seas Records - the company the Prince had signed Jackson up to - did not technically exist.
In the afternoon, Jackson's former manager Guy Holmes added insult to injury by revealing that Jackson only signed a draft paper, never a finalized contract.
In short, the Prince had used a void contract to sign Jackson to a non-existent company.
It was also revealed during the week's testimony that most of the purported $7million advance was given to Jackson in the form of gifts long before he ever signed anything - some of it before the pair had even met.
In court, the Prince produced a list of items and cash sums for which he said he wished to be compensated - a list so petty as to seek reimbursement for, among other things, a tub of Ben and Jerry's ice cream.
The media failed to report any of this information and instead portrayed Jackson's decision to settle as a sign of guilt and weakness.
It has since emerged that Jackson was ready to board an airplane to London when he was told of the settlement, which indicates that the settlement was most likely initiated by the Prince, not Jackson, when he saw his case crumbling before his eyes.
The terms of the settlement remain unknown but in addition to whatever Jackson agreed to pay the Prince, he also settled two outstanding debts this month. Both were small, but undoubtedly a step in the right direction. Sources tell the Lowly Newshound that if Jackson continues to pay off his loans at a steady rate, he will be debt free by the end of 2010.
He could be debt free far quicker, though, if rumours of a tour prove true. The online media was recently awash with reports that Jackson was planning a tour - 30 dates in 30 cities. However, this claim was originally attributed to Jackson by an unnamed fan, not an authoritative source, and thus is entirely unfounded.
What is true, however, is that AEG did offer Jackson a 30 night residency at London's O2 arena at approximately this time last year. Jackson became involved in serious negotiations but never signed the contracts. Rumours surrounding this offer have begun circulating again in recent weeks but nothing is confirmed.
Good news for Jackson comes in the form of a new estimate on the Sony/ATV catalogue - often referred to as the 'Beatles Catalogue'. The catalogue, in which Jackson owns a 50% stake, was recently valued at $30billion. As such, Jackson appears to be sitting on a $15billion fortune, somewhat dwarfing his alleged $300million debts.
Mahalo!
The Lowly Newshound
