The estate of Michael Jackson is on the verge of signing a new record deal for his music, it's been reported.

The agreement with Sony Music could be worth up to $250million and is thought to involve the release of 10 new projects over the next seven years.

One of these could include an album of previously unreleased and unheard material, according to the Wall Street Journal.

The deal is also thought to encompass the recent Jackson documentary, This Is It, which followed the star ahead of his ill-fated comeback shows.

A formal announcement about the deal is due to be announced later today (March 16).

Interest in Jackson's music and other projects has flourished since his sudden death in Los Angeles on June 25, aged 50.

An autopsy later ruled his death as homicide "due to lethal levels of propofol".

In February, the late singer's doctor Conrad Murray pleaded not guilty to a charge of involuntary manslaughter over the singer’s death.

(by Jason Gregory)