Fortress Investments threatened to foreclose on Neverland
Ranch, which Jackson used as collateral for loans running into
many tens of millions of dollars. However, Fortress opted to
sell Jackson's debts to Colony Capital LLC. In November,
Jackson transferred Neverland Ranch's title to Sycamore Val-
ley Ranch Company LLC, which was a joint venture between
Jackson and Colony Capital LLC. This deal cleared Jackson's
debt, and he reportedly even gained an extra $35 million from
the venture. At the time of his death, Jackson still owned a
stake in Neverland/Sycamore Valley, but it is unknown how
large that stake was.

Prior to his death, Jackson was scheduled to perform 50 sell out concerts to over one mil-
lion people, at London's O
2
arena. The concerts would have commenced on July 13, 2009
and finished on March 6, 2010. According to Jackson's website, ticket sales for the con-
certs broke several records. During a prior press conference, Jackson made suggestions of
possible retirement. Randy Phillips, president and chief executive of AEG Live stated that
the first 10 dates alone would earn the singer approximately £50 million.
Amanda Ghost, president of Epic Records (the label Jackson was signed to), has con-
firmed that new music from the ill-fated star will be released but it will not be a rushed
process. Ghost recognizes that there is an 'appetite' for the Jackson recordings to be re-
leased but also stated that the label "wants to be respectful to his memory, as well as mak-
ing sure the music is fantastic so that it does not damage his legacy".
[
She revealed that
the star had for several years before his death, been working on new material with Ne-Yo
and Akon. will.i.am of the Black Eyed Peas also worked with the late star on a dance al-
bum but revealed that he "would not leak the material" from his work with the King of
Pop.
On June 25, 2009, Jackson collapsed at his rented mansion at 100 North Carolwood Drive
in the Holmby Hills district of Los Angeles. Attempts at resuscitating him by his personal
physician were unsuccessful. Los Angeles Fire Department paramedics received a 911
call at 12:22 p.m. (PDT), arriving three minutes later at Jackson's location. He was report-
edly not breathing and CPR was performed. Resuscitation efforts continued en route to
the Ronald Reagan UCLA Medical Center, and for an hour after arriving there at
1:13 p.m. He was pronounced dead at 2:26 p.m. local time
The memorial was held on July 7, 2009, at the Staples
Center in Los Angeles, preceded by a private family service
at Forest Lawn Memorial Park's Hall of Liberty. Jackson's
casket was present during the memorial, which was broadcast
live around the world and watched by up to one billion peo-
ple, but no information was released about the final disposi-
tion of the body.
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