The winning studio would produce the film with Michael Jackson’s concert promoter, AEG Live, and his estate. It would go a long way to helping AEG Live recoup some of the $30 million to $32 million it spent producing the concert before Michael Jackson died June 25. The bidding was reported earlier by the Los Angeles Times and industry blogger Nikki Finke. Sony Pictures has a leg up on other bidders because Sony Music distributes Michael Jackson’s music and is in a 50 50 partnership with his estate in Sony/ATV Music Publishing. Sony’s bid is on par with the cost of making a mid range budget movie, and is offset by the fact that the Sony group of companies would benefit from the music licensing rights attached to the film.