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The footage of Michael Jackson's rehearsals for the late singer's London O2 Arena concerts is reportedly set to be purchased for £30 million ($50 million) for use in a movie to be released by Sony Pictures.
The company is expected to pay over £30 million to promoters AEG Entertainment, who own the rights to the footage, reports Variety.
Kenny Ortega, who directed the hit film 'High School Musical', is expected to helm the project.
As well as rehearsal footage the film will reportedly feature at least three videos which had been set to broadcast during the late singer's shows in the UK capital, and will be released before the end of the year.
One of the videos will be an alternative version of Jackson's iconic music video for 'Thriller'. The videos were meant to be presented in 3D, but it has not been revealed whether the film will present them in the format.
Jackson's series of concerts was set to debut in July 2009.
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