JACKO'S BACK!!!!!!!!!!!!

Reports suggest the 50-year-old has lined up a multimillion-dollar summer residency involving dozens of performances at London's O2 Arena.

In a statement on its Web site, the 20,000-seat venue invited Jackson fans to see a "special announcement" by the star at 4 p.m. GMT -- and to sign up for ticket alerts.

"Michael will finally put an end to months of speculation and reveal the news to the world's media and fans. Be there to see the legend and witness history!" the statement said.

Jackson did not make the 4 p.m. appointment as his entourage tried to get from central London to the O2 in south London.

So why is Michael Jackson committing to his summer shows in London? Other than money?

A source close to him tells me, "Michael’s doing it for his kids. He wanted them to see, at least once, what he did for a living."

And so maybe he shall if everything goes mostly as planned. I’m told that Jackson’s old musical director Kenny Ortega has already been contacted to direct the show. The production itself will be handled out of AEG Live’s London offices.

If all goes according to plan, Michael’s comeback will also be a coup for AEG Live’s Randy Phillips. It was Phillips who got this ball rolling two years ago, talking to Jackson when the O2 Arena was still the Millenium Dome and making the transition to rock venue.

Source: Fox News and CNN