This was the real deal as I posted on Max Jax ages ago:
Origial NY Times article about MJ's no show at Live Aid '85.
Published: July 17, 1985
The reason Michael Jackson was not at the Live Aid concert to sing the song he co-wrote, ''We Are the World,'' was that Mr. Jackson was ''working around the clock in the studio on a project that he's made a major commitment to,'' according to his press agent, Norman Winter.
''The project will be announced formally in a few weeks,'' Mr. Winter said.
''Michael is just about living in the studio, rehearsing and recording. I know, what could be more major than Live Aid, but Michael couldn't turn his back on his responsibility to the people he's working with. This affected employment for a lot of people.''
''We Are the World'' was the finale of the Live Aid concert Saturday.
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And that project was...Captain EO as well as the recording of the songs for it. As good asreason as any and Live Aid didn't exactly help the situation in Ethiopia either - the pop stars benefitted more and made plenty in sales afterwards.