Michael Jackson concert refund plan unveiled

Michael Jackson in his last rehearsal.

NEW YORK (CNNMoney.com) -- In the wake of Michael Jackson's death, concert promoter AEG Live said on Tuesday that ticket holders for his canceled shows in London will be fully refunded.

"Since he loved his fans in life, it is incumbent upon us to treat them with the same reverence and respect after his death," said Randy Phillips, Chief Executive of AEG Live, in a written statement.

The company also announced that ticket holders have the option of being "sent the actual tickets they would have received to attend the shows in lieu of the full refunds which are being offered." This offer stands through Aug. 14, the company said.

Ticket holders for the "This Is It" concert series can obtain their refunds by going to www.Michael.JacksonLive.com, starting on July 1. The refunds will include service charges, the company said.

Jackson, one of the most famous entertainers in pop history, was rehearsing for a 50-show concert series in London. The series was being billed as a comeback tour for Jackson, whose career slumped as he became heavily indebted.

Jackson was rushed to a medical center in Los Angeles on June 25 and pronounced dead at the age of 50. The cause of death is yet to be determined.