Michael Jackson

Michael Jackson has fired his business managers and has hired a New York-based firm to oversee his business affairs, his spokeswoman said Tuesday. The announcement from Raymone K. Bain said that she has been named general manager of the new Michael Jackson Company which will replace Jackson's MJJ Productions.

Bain said that Jackson is also planning public appearances and will begin performing again. "He is reviewing numerous offers to tour musically, which he plans to embark upon within the next several months," the announcement said. "Mr. Jackson has previously announced plans to record an album which he predicts will be released in 2007," it said.

Bain's press release said that Jackson has severed ties with his Bahraini lawyers and his longtime accountants and business managers, Bernstein, Fox, Whitman, Goldman & Sloan. She said he has hired L. Londell McMillan and The McMillan firm, "known for business restructurings and turnarounds."

The revamping, which Bain's release called "the first of a sweeping restructuring of his personal and business affairs," is an apparent attempt by Jackson to salvage his financial affairs.

Jackson is currently in Ireland "on personal business" and is making plans to relocate to Europe, the press release said. "He is continuing to build his management team and other appointments will be forthcoming," said the announcement.