So, did you hear the one about the movie studio that bought the film rights to the concert footage of greatest entertainer that ever lived? Yup, According to the Los Angeles Times, Sony Entertainment has paid upwards of $60 million to both the estate of Michael Jackson and AEG Live for access to more than 80 hours of behind the scenes footage of MJ's This Is It rehearsals, to be turned into a movie that will hit theaters on October 30th. Kenny Ortega, of "High School Musical" fame, will carry on as director of the film, which will keep the title This Is It, as he was also slated to direct the concert series. "The world will see what our team was so fortunate to experience, which was the full commitment, passion and creativity that Michael put into the project," Ortega said in a statement. 

The deal, authorized in Probate Court by Los Angeles County Superior Judge Mitchell Beckloff this past Monday, will have Sony deducting the cost of making the film from the $60 million. The October 30th release date, just in time for Halloween, will be a worldwide event, according to the report. The Times also states that Sony obtained the rights to include some 3-D sequences that were going to be shown on video screens during the "This Is It" concerts. The movie will feature a career retrospective and interviews with friends and collaborators. 

This, I can't wait to see.

Sony Pictures to Produce Michael Jackson film {LAT]