In a press conference at the Beverly Hills Hotel, the Jackson family announced the one and only tribute concert to the pop star.
The concert, "Michael Forever: The Tribute Concert," will take place Oct. 8 at the Millennium Stadium in Wales. It will serve as a memory of his life and will benefit three charities - AIDS Project L.A., a cancer charity, and The Prince's Trust.
The lineup will not be revealed until Aug. 3, one day before tickets go on sale. Jackson's family says that it will be a musical event of a lifetime.
"I was told the names of some of the world's biggest artists over the phone," said Katherine Jackson. "I knew it would be fit for a king. And so, if my son was here today, he would feel the same way."
"He is an entertainer that I feel that no one could ever stand up to or hold a candle to as far as his talent is concerned," said La Toya Jackson. "With that said I know that this tribute will be spectacular."
October marks the 40-year anniversary of Jackson's professional career. Tickets will go on sale Aug. 4; the price of the tickets has not been released.
