Five finalists in each category will be chosen based on sales; 1,000 jazz-industry insiders will pick three nominees and the winner.
Pianist George Duke will be music supervisor; he and impresario Quincy Jones have agreed to serve as presenters.
The show is intended to be a higher-profile event than existing jazz awards, and will go forward only if a national television outlet can be found. "This is a high-budget special," creator Kitty Sears told Variety. "The sponsors we have lined up are interested in a televised show."