Reuters - Video

EDITION: U.S. | U.K. | IN

Entertainment

Timberlake wins big at VMAs, Jackson's estate hit with tax bill

Monday, Aug 26, 2013 - 01:32

Aug 26 - The day's top showbiz news and headlines including Justin Timberlake wins big at the MTV VMAs, Michael Jackson's estate reportedly owes millions in back taxes, and ''Lee Daniels' The Butler'' tops the box office again. Bob Mezan reports.

▲ Hide Transcript

View Transcript

Justin Timberlake won big at MTV's Video Music Awards, taking home the top prize for Video of the Year for "Mirrors." The singer was also the recipient of the Michael Jackson Video Vanguard Award, and in a lengthy performance, reunited with his former boy band members from 'N Sync - their first performance together since 2002. Other highlights included Lady Gaga, who opened the show with a rendition of her new single "Applause," and Miley Cyrus, who joined Robin Thicke on stage for a racy performance of "Blurred Lines." The estate of Michael Jackson owes $702 million in federal taxes and penalties - that's according to the U.S. Internal Revenue Service, which has accused the singer's estate of undervaluing some of Jackson's assets by hundreds of millions of dollars. Jackson's image and likeness were valued by the IRS at $434 million. The estate said its taxable value was $2,105. The matter will now be taken to a U.S. tax court. Finally, civil rights drama "Lee Daniels' The Butler" was the top earner at the North American weekend box office for the second week in a row. The film, which stars Forest Whitaker and Oprah Winfrey, earned 17 million in ticket sales. The movie has rung up sales of more than 52.3 million dollars so far.

Timberlake wins big at VMAs, Jackson's estate hit with tax bill

Monday, Aug 26, 2013 - 01:32

Top News »

Money »

Moving Pictures »