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AEG had promoted 50 sold-out shows at London's O2 Arena starting July 13, with tickets starting at $105 apiece, but Jackson's death last week forced their cancellations, CNN reported.

"The world lost a kind soul who just happened to be the greatest entertainer the world has ever known", Randy Phillips, president and chief executive officer of AEG Live, said in a statement. "Since he loved his fans in life, it is incumbent upon us to treat them with the same reverence and respect after his death."

The U.S. broadcaster said fans who opt for a souvenir rather than a refund will get a ticket conceived by Jackson. Eight designs with holographic images of the entertainer on the front will be available, soon to be unveiled at michaeljacksonlive.com.

Some $85 million in tickets had been sold for Jackson's planned 02 Arena shows, Billboard magazine has estimated.

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