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Milken Family Foundation National Educator Awards

NY Times

Michael R. Milken, one of the world's most infamous financiers, claims to have the backing of Michael Jackson, one of the world's most famous entertainers, to form an interactive educational television network, a spokeswoman for Mr. Milken said today.

Whether the backing of Mr. Jackson will be financial or creative remains unclear, and a spokesman for the singer said today that he could not comment on the arrangement because no deal had yet been reached.

But Mr. Milken, the former Drexel Burnham Lambert financier who was released from Government custody this month, announced on Thursday night that his philanthropic foundations would start the educational network with Mr. Jackson's help. The two Michaels were friends long before Mr. Milken went to jail two years ago for a variety of securities laws violations.

Since his release from prison, Mr. Milken has sought to rehabilitate his image, saying that he planned to commit his time to educational efforts.

Mr. Milken, 46, is required to work 1,800 hours of community service in each of the next three years to fulfill the terms of his sentence for securities fraud. The Securities and Exchange Commission has barred him for life from the securities industry, in which he made a personal fortune of more than $1 billion.

Lorraine Spurge, who acts as Mr. Milken's spokeswoman, said the educational network was in development and that Mr. Jackson had told Mr. Milken that he wanted to be involved, especially since the singer's charity work has focused on children.

"They have been friends for some time, and the network is a natural for the two," Ms. Spurge said.

The educational network would be started six months to two years from now, Ms. Spurge said, and would feature programs for everyone from preschool children to adults. The cost to develop the network has not been determined.

Mr. Milken's foundations are sponsoring a three-day education conference here involving hundreds of teachers and business executives. The foundations will award $25,000 cash prizes to 120 elementary and secondary teachers from 20 states. Mr. Jackson is scheduled to speak at a conference dinner on Saturday night.

LA Times

In his first major public appearance since his release from prison nearly three months ago, former junk bond king Michael Milken announced Thursday that his family foundations will launch a cable television education network with the help of singer Michael Jackson and several corporate partners.

"I was a little detained for the past couple of years," Milken quipped during the talk, which was punctuated by two standing ovations from an audience that included such diverse types as Jackson, TV sexologist Dr. Ruth Westheimer, former football star Rosey Grier, Mirage Resorts Chairman Steve Wynn and Los Angeles Urban League President John W. Mack.

Michael Jackson has already signed up, Milken said in an interview after the speech, and the network will eventually support a paid staff.