Details of who else is being approached remain a secret, but the ECHO has learned soul legend Gloria Gaynor, Elton John and George Michael will be asked to support the Wavertree teenager.
Thousands of pounds could be raised through the concert which will go to the Michael Shields Bring Him Home fund.
Malcolm Feld, who has looked after top acts such as Bobby Darin, Sammy Davis Jr and Bruce Forsyth, is launching the spectacular along with Mike McCartney, Paul's brother.
The photographer is set to bring together members of his 1960s band the Scaffold in a one-off reunion.
Mike was keen to support Michael Shields after being emphatically cleared in February of groping a waitress at a Wirral pub.
He told the ECHO: "I've been in a similar position as Michael and been held a hostage in my house.
"His freedom has been taken away and aprice has been put on his head. It's a nightmare the young lad is living day and night.
"People should stand up and be counted and not just do nothing."
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