Children to get pounds 300m in royalties.

Byline: MARTIN FRICKER

MICHAEL Jackson's children will net a pounds 300million windfall from footage of the rehearsals for his final shows.

A pounds 30million film featuring unseen film of Jacko's last days is already in the pipeline.

Once it has been sold around the world, tour promoter AEG expects to bank pounds 200million.

A soundtrack album to accompany the film will also be a bestseller.

AEG boss Randy Phillips said Jackson's kids Prince, 12, Paris, 11 and Blanket, seven, will get "the lion's share" of royalties.

While his company shot the footage, Jacko's estate owns the rights to his name and likeness.

Mr Phillips added: "Michael was our partner in life and now he's our partner in death."

AEG also wants at least pounds 5million for the sole US TV rights to a behind-the-scenes documentary special.

It will feature interviews with the superstar just hours before his death and be shown in September to promote the movie.

A 10-track album of songs recorded by Jacko last year is likely to be snapped up for pounds 25million by a record label.

AEG is also selling TV rights to a London tribute concert on August 29, Jackson's birthday.

Justin Timberlake, Janet Jackson and others will perform the songs he had planned.

The pounds 30million movie will be made by Sony Pictures.

It will have access to more than 80 hours of footage from the star's Staples Center rehearsals.

Hollywood is buzzing with rumours it could be in cinemas in time for Christmas.