Forget Jon & Kate, Michael Jackson's death may be the latest event to help resuscitate the faltering magazine industry. After news of his death broke on Thursday afternoon, magazines rushed to honor the pop star.

Today, Time magazine has a commemorative issue hitting newsstands. The issue features memories of Michael from a laundry list of his famous friends and admirers, including Stevie Wonder, Whitney Houston, Tina Turner and Nancy Reagan.

Time's commemorative issue, which was published in addition to the magazine's regular issue for this week that features a cover story on FDR, is expected to have record newsstand sales. The last special issue published between regularly scheduled issues was after September 11, 2001. It sold 3.25 million copies in the U.S., the magazine said.

Other special issues of Time have marked Barack Obama's election and the deaths of Princess Diana and John F. Kennedy, Jr.

TV Guide is also publishing a commemorative issue honoring Jackson and Farrah Fawcett. That issue will hit newsstands on Thursday, a week after the two stars' deaths.

And while some magazines have rushed to honor Michael Jackson's sudden death, others were caught off guard -- as is known to happen in this ever-changing news cycle. The New York Post reported today that the August issue of Vanity Fair will feature a story defending Heath Ledger's drug use. Ledger died last year from an accidental overdose and the assumption is that Jackson may have died in the same way.

What do you think? Will you be picking up any Michael Jackson commemorative issues?