(CNN) -- Contrary to a report in a British newspaper, Michael Jackson does not have skin cancer, says Randy Phillips, president and CEO of AEG Live, the promoter of the King of Pop's upcoming concerts at London's 02 Arena. 

Michael Jackson gestures to the crowd at the March announcement for his series of London concerts. 

"He's as healthy as he can be -- no health problems whatsoever," the executive told CNN. 

Phillips said he asked Jackson point-blank about the skin cancer rumor yesterday, and the entertainer just brushed it off and laughed. 

"He's used to rumors like this. He's been famous ever since he was 5. He doesn't read the newspapers or watch news reports," Phillips explained. 

He also had an answer for an item in the British tabloid The Sun that said Jackson had been "making regular trips to a dermatologist in Beverly Hills wearing a mask and surgical cap." 

"Michael is very close friends with his dermatologist. It's as simple as that," said Phillips. 

According to Phillips, the 50-year-old pop star had passed a stringent physical exam before he and AEG inked their deal for Jackson to headline a 50-show residency at 02 beginning July 8. "And he'll have to take another before the shows start," he offered. 

Phillips also told CNN a tour with sister Janet Jackson and other performing members of the Jackson family was "never in the works, at least from Michael Jackson's side." 

He added, "Never say never, but right now, he's focusing on his own show. It's not about his family." 
Does Michael Jackson have skin cancer?
Michael Jackson does not have skin cancer