Michael Jackson has indicated that he is ready to return to producing music with the news that he has signed an exclusive recording deal with Bahrain based Two Seas Records, the joint label venture of Jackson and his friend Abdulla Hamad Al-Khalifa. The news follows revelations that the singer has struck a refinancing deal over outstanding $200million loans secured by his stake in the Sony/ATV catalogue, which includes the rights to around 250 Beatles tracks.
The singer, who has made his home in Bahrain since his acquittal on child molestation charges in 2005, is working on new material tentatively scheduled for a late 2007 release. The new long player will be Jackson's first studio album since 'Invincible', his 2001 outing released via Epic. According to a statement Jackson said: "I am incredibly excited about my new venture and I am enjoying being back in the studio making music."
UK record executive Guy Holmes has been appointed CEO of the new label, as well as taking care of Jackson's other business interests, effectively making him the pop star's manager. Holmes will also remain chairman of Gut Records, who have handled releases by artists such as Sparks, Tears For Fears and Aswad. Last year, of course, the label released annoying novelty hit 'Axel F' by the Crazy Frog. Gut are already promoting their relationship with Jackson, with a digital player on the company's website streaming a Hi Tack remix of his 1983 hit 'Say Say Say'.