Michael Forever – The Tribute Concert has been backed by members of the Jackson family and will be shown to 30 countries in both 2D and 3D.
The line-up for the show, which will take place on October 8, is yet to be announced but is said to include major stars who Jackson himself had admired before his death in June 2009.
At a press conference in Los Angeles, which was broadcast in the Millennium Stadium, members of the Jackson family said the concert would be a unique celebration of the performer’s work to mark the 40th anniversary of his solo career.
Michael’s mother, Katherine, said: “When I was told some of the names of the artists performing I knew it would be fit for a king. If my son was here today he would feel the same way.
“I will be there along with as many members of my family that can make it. It is intended to be the biggest and best concert in the world for many years to come.”
Michael’s brother Tito said: “I know my brother would be very proud to see all the artists that he admired and respected so much come together for this special event.”
His sister La Toya said: “This event is far, far overdue. He was an entertainer who I feel no-one can ever stand up to or hold a candle to as far as his talent is concerned. This tribute will be something spectacular and I know that he would approve.”
The stadium was chosen because of its ability to hold 75,000 people but still create an intimate atmosphere with its sliding roof closed.
Chris Hunt, president of Global Live Events, which is organising the concert, said: “This is an exciting moment for Michael Jackson fans from around the world. This event will not be repeated.
“It will not be less than four hours long and, rather than looking like a massive outdoor festival, we can create an intimate atmosphere that Michael would be proud to perform in.
“We wanted to do something decent and worthy of Michael’s musical genius yet something fun and authentic that you would envision Michael attending with excitement and joy surrounded by talent that he respected and loved.”
Roger Lewis, chief executive of the Welsh Rugby Union, which owns the Millennium Stadium, said the event would be a boost for Wales and the economy.
He said: “This extra special concert, paying tribute to one of the world’s greatest pop icons of all time, is fantastic news for music fans all over the world and it is a huge boost for Wales to host this spectacular one-off show. It’s going to be unique and truly extraordinary.
“There are many economic benefits that this concert will give for all aspects of Wales. People will be travelling here from all over the world to spend a long weekend here. The economic benefit will be great. The hotels will be full and restaurants and pubs will be packed.
“I’m proud that once again the eyes of the world will be on Wales.”
Proceeds will go to three charities that Jackson supported – The Prince’s Trust, Aids Project Los Angeles and a cancer charity.
In a statement, Michael’s brothers Jermaine and Randy Jackson said they felt the timing of the concert was “inappropriate”.
The brothers said: “While we wholeheartedly support the spirit of a tribute that honours our brother, we find it impossible to support an event that is due to take place during the criminal trial surrounding Michael’s death.
“As everyone knows, Those proceedings commence September 20.”
The line up will be announced on August 3. Tickets go on sale on August 4 at www. michaelforevertribute.com