A US$250 million deal has been done between Sony and the estate of Michael Jackson.

The Wall Street Journal has reported the lucrative recording contract will pay the money to the estate, which will give Sony a mix of previously unreleased songs and new packages of familiar ones.

Sony has sold about 31 million of Jackson's albums worldwide since his death on June 25th.

It is believed an album of previously unreleased songs could be in stores before the end of this year.