*As previously reported, Pepsi has revived its sponsorship deal with Michael Jackson, partnering with the late singer’s estate to roll out a billion Pepsi cans with a silhouette of Jackson as part of its newly launched “Live For Now” global marketing campaign.

PepsiCo has released a photo of the new can, pictured above.

The beverage company and Jackson’s estate declined to disclose the financial terms of the latest deal. Jackson signed onto a Pepsi sponsorship deal in 1984 for a then-record $5 million.

The new campaign is part of PepsiCo’s pledge to ramp up spending on its flagship cola, which has been losing ground behind archrival Coca-Cola Co.

PepsiCo is boosting its overall marketing budget this year by as much as $600 million, or by about 20 percent, according to The Hollywood Reporter.



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