Jackson Estate Administrators to Collect Ten Percent of Profits

A Los Angeles Superior Court judge has signed off on a deal giving John Branca and John McClain, the administrators of Michael Jackson's estate, a ten-percent cut of the estate's profits.

Per the terms of the approved agreement, Branca and McClain will split 10 percent of the profits they net -- excluding profits from Jackson’s concert film ‘This is It’ and the late King of Pop’s music catalog interests, says the Associated Press.

The judge who okayed the deal will oversee the payments and has set a progress report for September.