Sony is set to show footage from Michael Jackson's concert rehearsals in a big concert film this fall (October 30). HSX is making the stock [JACKO] available on Monday August 3 at a price of H$40. Is that a good deal for players? Here is some info to help you decide.
An article from the LA Times says Sony bid $60M for the 80 or so hours of footage that concert promoter AEG had filmed. Certainly that means Sony believes fans will be interested.
Concert films have seen mixed results in recent years. The Hannah Montana/Miley Cyrus Concert film made $65M, the Jonas Brothers 3D film made $20M, and the u2 3D film has been a long term success, making over $10M. Michael Jackson trumps all those acts, right?
My gut feeling is that right now, unless bad reviews of the footage/film plans comes to light, that the IPO price of H$40 is a good deal. SONYX Fund will play the stock long, at least short term, until more info comes out.
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