D.A. Has Jacko’s Finances Wrong

Santa Barbara Assistant District Attorney Gordon Auchincloss is wrong about his contention that Michael Jackson is near bankrupt, according to Roger Friedman of FoxNews.com. He points out that there is a deal awaiting him that clears up his $275 million debt to Bank of America, leaving him with a substantial percentage interest in Sony/ATV Music Publishing and freeing up collateral of $100 million in cash. Read more.