Remember that footage of Michael Jackson's final rehearsals that was released following his death? Well, Sony has bid $50 million to purchase all of the video from AEG in hopes of turning into a feature film. Billboard reports that several studios were interested in purchasing the footage, but Sony has a leg-up since they don't have to worry about paying for licensing of the music in the videos, since they own the rights to Jackson's catalog.

The main question Sony has to ask is whether or not public nostalgia for Jackson will still be in full effect in a few months when the company rolls out a film project. $50 million might be too steep a price to pay for rehearsal footage that is probably more valuable for being slightly morbid than having entertainment value. [Billboard]