Jerry Greenberg and Frank Dileo will produce the Larry Hart-written musical, which first debuted in Los Angeles at the Pasadena Playhouse in 1996. Jackson was the executive producer.
Greenberg was president of Jackson's jointly owned record label with Sony Music for 11 years. Dileo was the pop icon's manager.
Casting and further details were expected later.
Raymond G. del Barrio will be the show's choreographer - the same role he held when the musical debuted.
Set in turn-of-the-century New York, the musical tells the story of a wicked stepmother who tries to steal the fortune her late husband left to his daughter.