Michael Jackson says ranch foreclosure averted
NEW YORK, May 11 (Reuters) - Entertainer Michael Jackson said on Sunday a foreclosure sale on his Neverland Ranch property in California has been canceled by Colony Capital LLC, which acquired the loan on the ranch from Fortress Investment Group (FIG.N: Quote, Profile, Research, Stock Buzz) and is negotiating a deal.
Jackson said in a press release that he was "in discussions" over the ranch with Colony and was "pleased with recent developments."
A spokesman for Jackson declined to provide further details. (Reporting by Dane Hamilton; editing by John Wallace)
© Thomson Reuters 2008 All rights reserved
Help us advance this story. Provide relevant links or share your insights using our comment box. Please be considerate and help us by reporting any abuse you find. Reuters will delete comments that don't meet community standards.
Have a correction to this article? Email the editors
Sphere
Daring chimp
Dolly's damage