No, it's not a biopic, and Johnny Depp isn't playing Michael Jackson, so you can calm down. Sony Pictures is in the process of acquiring the rehearsal footage that Michael Jackson shot in his preparation for his now fatal run of concerts at London's O2 arena. According to Variety, Sony is paying almost 60 million dollars for 80 hours of footage that's currently owned by AEG, the company promoting Jackson's concert run.

Director Danny Ortega (High School Musical) who shot the footage is also expected to assemble the final film, which will include three videos Jackson shot that were intended to accompany his live shows.

Though the deal isn't final, the Jackson family estate is expected to receive about 90 percent of the earnings from the deal, after AEG has made back their production costs for the defunct tour, including 85 million dollars in ticket refunds. Ow.

[MTVNews]