At the London premiere of new film "This Is It" - which documents the rehearsals for his ill-fated 50-night London residency - Peter told BANG Showbiz: "We're still in talks about what we're going to do. There are a few options, one being a live concert and another being a one-off TV special. Whatever it is, it's not going to happen overnight so we're lucky we have lots of time to plan it."
"We want it to happen on the first anniversary of his death, so next June. I can't give you many details, but I promise you it will be good."
Peter will also dedicate a segment of each concert on his upcoming tour to the "Smooth Criminal" singer.
The pop star - who has previously revealed he is in "regular contact" with Michael's sister La Toya about the tribute show - said: "Michael inspired everyone. He was a genius. On my tour next year I'm going to do a little tribute to him for sure, because I love singing Jackson."
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