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NEW YORK, NY (Universal Express) - Universal Express, Inc, today announced a l0,000 plus piece collection of Jackson family memorabilia including all Thriller costumes, platinum and gold records, photographs and countless personal documents has been sold today to Universal Express (http://www.usxp.com) and some of its entertainment partners.
'The biggest known Jackson Music and memorabilia collection ever amassed was purchased with plans to insure for up to $50,000,000 with a planned auction to be announced at the appropriate time,' said Richard A. Altomare, Chairman and CEO of Universal Express.
'The Jackson family had meticulously gathered this over 10,000 piece memorabilia collection for decades and planned to decorate a chain of entertainment restaurants, but lost the collection in a protracted 6 year legal battle with former New Jersey partners.
'The historical items which include hundreds of items from each Jackson family member have been secretly moved to an undisclosed location for preparation and media viewing.
'Due to the perceived value of the Jackson platinum and gold records and master recordings with numerous unheard and unreleased masters of some Jackson songs never presented to the public; we have obviously begun guarding the collection 24 hours a day.
'In my opinion, we have far too many personal and intimate papers, sketches, diaries, notes, costumes as well as gifts from other notables to not present them in the most professional and meaningful light.
'After this collection was authenticated, legal ownership verified, and approved by our entertainment experts; I enthusiastically purchased the collection,' Mr. Altomare further stated.
'Initially, when this acquisition opportunity was presented; I balked due to this unique venue which did not represent our core businesses. However, the possibility of such a revenue windfall for our shareholders and subsidiaries caused some reflection and a reminder that making money always resembles any core business. Since a developing company raises monies and incurs debt to build its infrastructure, this ¡once in a lifetime' opportunity will generate additional funds necessary to further build our core businesses and further enhance dramatically our worldwide corporate branding.
'The Jackson memorabilia collection and the worldwide interest may result in one spectacular auction, a museum or individual offer for the entire collection, or an E-Bay on-going income stream from the collection. In all cases, the music value and the balance sheet asset base of this investment added to our current balance sheet along with the worldwide publicity and branding clearly outweighed passing on this opportunity.
'In any event, the collection long rumored about is now in professional and responsible hands and the public will soon be reintroduced to the memorable and innocent Jackson years and maybe have answers to many unanswered ¡behind the door' questions that these formative family effects may help to crystallize or to enlighten,' concluded Richard A. Altomare.
NEW YORK, NY (Universal Express) - Universal Express, Inc, today announced a l0,000 plus piece collection of Jackson family memorabilia including all Thriller costumes, platinum and gold records, photographs and countless personal documents has been sold today to Universal Express (http://www.usxp.com) and some of its entertainment partners.
'The biggest known Jackson Music and memorabilia collection ever amassed was purchased with plans to insure for up to $50,000,000 with a planned auction to be announced at the appropriate time,' said Richard A. Altomare, Chairman and CEO of Universal Express.
'The Jackson family had meticulously gathered this over 10,000 piece memorabilia collection for decades and planned to decorate a chain of entertainment restaurants, but lost the collection in a protracted 6 year legal battle with former New Jersey partners.
'The historical items which include hundreds of items from each Jackson family member have been secretly moved to an undisclosed location for preparation and media viewing.
'Due to the perceived value of the Jackson platinum and gold records and master recordings with numerous unheard and unreleased masters of some Jackson songs never presented to the public; we have obviously begun guarding the collection 24 hours a day.
'In my opinion, we have far too many personal and intimate papers, sketches, diaries, notes, costumes as well as gifts from other notables to not present them in the most professional and meaningful light.
'After this collection was authenticated, legal ownership verified, and approved by our entertainment experts; I enthusiastically purchased the collection,' Mr. Altomare further stated.
'Initially, when this acquisition opportunity was presented; I balked due to this unique venue which did not represent our core businesses. However, the possibility of such a revenue windfall for our shareholders and subsidiaries caused some reflection and a reminder that making money always resembles any core business. Since a developing company raises monies and incurs debt to build its infrastructure, this ¡once in a lifetime' opportunity will generate additional funds necessary to further build our core businesses and further enhance dramatically our worldwide corporate branding.
'The Jackson memorabilia collection and the worldwide interest may result in one spectacular auction, a museum or individual offer for the entire collection, or an E-Bay on-going income stream from the collection. In all cases, the music value and the balance sheet asset base of this investment added to our current balance sheet along with the worldwide publicity and branding clearly outweighed passing on this opportunity.
'In any event, the collection long rumored about is now in professional and responsible hands and the public will soon be reintroduced to the memorable and innocent Jackson years and maybe have answers to many unanswered ¡behind the door' questions that these formative family effects may help to crystallize or to enlighten,' concluded Richard A. Altomare.