Michael Jackson auction canceled

LOS ANGELES, April 14 (UPI) -- A planned auction of nearly 2,000 items belonging to U.S. pop star Michael Jackson has been canceled, TMZ said Tuesday.

The Los Angeles Times said that among the items that were to have hit the auction block in Beverly Hills, Calif., starting next week, were the actual gates from Jackson's now-defunct Neverland Ranch, the sparkly glove he wore in the video for "Billie Jean," arcade-style video games, fiberglass figures of servants and a carousel horse with an inscription from iconic actress Elizabeth Taylor.

TMZ said Jackson's production company has reached a settlement with Julien's Auction House that allows the eccentric recording artist to keep his various mementos.

Although the terms of the settlement were not made public, the auction house's lawyer told the entertainment news Web site that "everyone is happy."