PepsiCo Inc. is resurrecting Michael Jackson to try to pump life into its flagship cola, three years after the singer's death and more than a quarter century after the pop icon's landmark sponsorship deal to become the voice of the brand, according to The Wall Street Journal.

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Following an agreement with Mr. Jackson's estate, the beverage and snack giant said Thursday that it will roll out a billion Pepsi cans with a silhouette of Jackson as part of its newly launched "Live For Now'' global marketing campaign.

PepsiCo and Jackson's estate declined to disclose the financial terms of the latest deal. Mr. Jackson signed onto a Pepsi sponsorship deal in 1984 for a then-record $5 million.

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The new campaign is part of PepsiCo's pledge to ramp up spending on its flagship cola, which has been losing ground behind archrival Coca-Cola Co.PepsiCo is boosting its overall marketing budget this year by as much as $600 million, or by about 20 percent.

As reported earlier in the week by Billboard, Pepsi is also prepping a 25th-anniversary campaign in mid-May commemorating the release of Michael Jackson's "Bad." The program will include a series of remixes from superstar DJs - Skrillex, Diplo and A-Trak are among the names mentioned to be connected with the project. The exclusive tracks are set to be accessed through a special Pepsi-can promotion where fans can scan a code with their phone to hear a song.