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Michael Jackson Movie to Hit Theaters on October 30

Sony Pictures has paid $60 million to acquire the rights to the film which will be made out of the rehearsals he did for " This is It " concert series, PopCrunch reported via the Hollywood reporter. The concert, promoted by AEG was due to open at London's O2 arena last week.

Sony and AEG Live have set the release date on Friday, Oct. 30 which falls in the Halloween week. It is also reported that 90% of the money paid will go to the Jackson estate.

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