Janet Jackson Spins a New Record: $80-Million Deal

Music: Pop superstar to ink contract with Virgin for four new albums.

January 12, 1996|CHUCK PHILIPS | TIMES STAFF WRITER

Pop diva Janet Jackson is expected to sign a four-album contract today with Virgin Records worth an estimated $80 million--an unprecedented fee that analysts say could set the stage for another round of music industry mega-deals.

The pact is the biggest ever awarded, surpassing the $60-million mark shared by such superstars as Michael Jackson and Madonna, whose six-album deals included film and joint-venture record label components.

The 29-year-old entertainer has been the target of a ferocious industry bidding war since her Virgin contract expired last year. Jackson is so hot that sources said Walt Disney Co. President Michael Ovitz met with Jackson's representatives three weeks ago, hoping to woo her with a huge offer that included film opportunities. Jackson starred in John Singleton's 1992 movie, "Poetic Justice."