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Jacko Stops Neverland Auction


03/14/2008
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(AP) Michael Jackson reached an 11th-hour deal to refinance his troubled Neverland Ranch, his lawyer said Thursday, avoiding a public auction of the property that had been scheduled next week.

Jackson attorney L. Londell McMillan told The Associated Press the pop star has worked out a "confidential" agreement with Fortress Investment Group LLC allowing him to retain ownership of the famed property in Los Olivos, Calif.

The property was scheduled to be auctioned March 19 after Jackson went into default on the $24.5 million he owes on the 2,500-acre spread - more on this story

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