Beckerman sets out AEG's growth plan

Dan Beckerman, the newish CEO of AEG, has told the Wall Street Journal  of plans for further expansion, having regrouped after the aborted attempt to sell the company for an estimated $8 billion plus just over a year ago and having learnt from the failed sale. AEG's focus is now on AEG's venue real estate and on better utilising the the AEG Live concert promotion business to support its venue network as well as further expanding the company's relatively new ticketing venture - the AXS.com ticketing platform - and other digital assets.

Phillips out at AEG

AEG has announced a series of changes at its concert division which sees the departure of Randy Phillips, Jay Marciano, COO of the AEG parent company, will become Chairman of AEG Live and will have a more hands-on role in running the division. Reporting in to him will be Paul Tollett, who remains President of the Coachella-producing Goldenvoice unit; John Meglen as President Of Global Touring; and Shawn Trell who becomes COO of AEG Live. Trell replaces Thomas Miserendino, who recently moved within the business to become CEO of AEG Europe.

Jury in Jackson case find in favour of AEG

The jury in the $1.5 billion case brought by Michael Jackson's family against AEG, promoters of his This Is It tour, have found that whilst AEG did employ Dr Conrad Murray, the company was not liable for his subsequent negligence finding that a licensed doctor Murray was not "unfit" or "incompetent" for the job he was hired to do, even if he proved to be unethical in the treatment he then provided to the late king of pop. The jury found that AEG didn't have a responsibility to go digging into Murray's personal life - to discover his acute financial problems, which possibly made him more prone to provide the prescription drugs Jackson craved in order to keep his job and it was reasonable for AEG to therefore assume he would perform the tasks he was hired to do in a responsible way.   It was the King of Pop’s own actions that kept his use of the surgery-strength anesthetic propofol a secret from AEG Live and his own choices that led to his untimely death at the age of 50. The jurors found the company had no reason to suspect a licensed doctor with no malpractice claims would violate his Hippocratic Oath with dangerous practices.  Marvin Putnam, the promoter’s lead attorney said “What really happened behind those locked doors? That was between Michael Jackson and his physician.” AEG CEO Randy Phillips told reporters: "I counted Michael Jackson as a creative partner and a friend. We lost one of the world's greatest musical geniuses, but I am relieved and deeply grateful that the jury recognised that neither I, nor anyone else at AEG Live, played any part in Michael's tragic death". Kevin Boyle, one of Katherine Jackson’s lawyers, said “We of course are not happy with the result as it stands now” and that the family were exploring legal options. Jackson's Estate was not involved in the lawsuit. 

Competition Commission clears AEG Wembley Arena deal

The Competition Commission (CC) has formally cleared the completed acquisition by AEG Facilities UK (AEG) of the contract to manage Wembley Arena. In its final decision,  the CC has concluded that the merger would not result in a substantial lessening of competition in the markets for the provision of venue space to promoters, provision of sponsorship opportunities or the provision of other event-related services such as catering, confirming the Commission's preliminary ruling, published in July.

Wembley Arena was previously operated by Live Nation Entertainment. AEG is the current operator of three indoor live entertainment venues in London: The O2 Arena, the Hammersmith Apollo, and IndigO2, and has been recently awarded a five-year contract to deliver summer concerts at Hyde Park. Following the merger, AEG will operate the two largest London indoor venues: The O2 Arena and Wembley Arena. AEG is also a promoter, AEG Live (UK) Limited, and owns a ticketing service, AXS.com.

Martin Cave, CC Deputy Chairman and Chairman of the AEG/Wembley Inquiry Group, commented: ‘AEG’s opportunity to increase venue hire prices would be limited because factors such as capacity, availability, brand, reputation and personal preference are more important to acts booking the venue. Negotiation on the venue hire price takes place after the venue booking has been confirmed. We also considered whether AEG would have an incentive to reduce the quality of the venue after the merger and found that doing so could damage AEG both in financial terms and also in relation to its reputation at its other venues.’

The CC also stated that, while the merged entity might have the ability to use its position as a promoter, ticket and venue operator to harm its competitors in different parts of the supply chain, either by reducing the supply of its services to its competitors or by supplying its services on worse terms, it would not have the financial incentive to do so.

Specifically, the CC has found that, if the merged entity tried to harm its competitors in these ways, it would suffer significant short-term losses in pursuit of very uncertain long-term gains.

http://www.competition-commission.org.uk/media-centre/latest-news/2013/Sep/cc-formally-clears-aeg-wembley-arena-deal

AXS TV to screen British Summer Time

AXS TV, the US TV channel owned AEG, talent agency CAA, Ryan Seacrest and Mark Cuban's HDNet, will broadcast coverage of AEG’s British Summer Time concerts that take place in London's Hyde Park next month. The Barclaycard-sponsored event includes various concerts between 5-14 July, with Bon Jovi, The Rolling Stones, Elton John, Lionel Richie and Jennifer Lopez all set to play. AXS TV's broadcasts will air on American cable networks on 13 and 14 July.

AEG's Wembley deal faces regulator scrutiny

AEG's deal to take over the running of Wembley Arena has been referred to the Competition Commission after an initial investigation by the Office of Fair Trading. Late last year AEG won the rights to manage the Wembley Arena venue, previously held by Live Nation, but concerns were raised because AEG also operates London's other arena venue at The O2 complex, as well as the Hammersmith Apollo.

AEG face $40 billion Jackson claim

TMZ reports that Katherine Jackson and the children of Michael Jackson are suing AEG Live for a whopping $40 billion, arguing that AEG Live - promoter of Michael Jackson's ill-fated 'This Is It' show - is liable for the singer's death because it hired and managed Dr Conrad Murray, the medic convicted of causing the late king of pop's death through negligent treatment. Having had some claims removed from the suit, AEG counters that Jackson himself chose Murray and was the doctor's day-to-day manager, and therefore it is not liable for his actions.

AEG not for sale!

AEG, the venue operator, sports and tour promoter which has been up for sale since last year, is off the market. The live entertainment company, which runs the O2 in London and part owns the LA Lakers basket ball team will now remain part of the Anschutz company, with its top man Philip Anschutz playing a more active role moving forward. Its thought offers feel at least $1 billion short of the $8-10 million asking price. Meanwhile, in a surprise move, AEG CEO Tim Leiweke will depart the company, with CFO Dan Beckerman taking on most of his responsibilities. 

AEG announce their London summer time

AEG Live have outlined their plan's for  live events in London's Hyde Park in 2013, spear headed by a brand new event, the Barclaycard-backed British Summer Time. The new event will comprise two weekends of live music plus an intervening programme of film, theatre, literature and sport, and the Park will be divided into four "themed zones" -  "specially designed installations and entertainment, high quality restaurants, bespoke salons, pubs, cocktail bars, cafes, bistros and independent food stalls".  Bon Jovi have been confirmed as the  first headliner at the new event.  AEG Live Event Director Jim King said: "After a great deal of planning and hard work, we are so proud to announce what will no doubt be an incredible event for London. We literally started with a blank canvas and in Barclaycard British Summer Time, we have created what we believe to be the ultimate in summer events".

AEG sale taking longer than expected

Tim Leiweke, CEO of the Anschutz Entertainment Group, has said that the much reported sale of the live entertainment major is well under way, but told Billboard that talks are taking longer than expected because of the number of parties interested in bidding for the firm. Last September the Anschutz Company announced its intent to sell its entertainment business, which owns and operates a network of venues worldwide, including London's O2 dome, as well as having extensive interests in sport (especially in the US) and owning  AEG Live with tours by Justin Bieber, Taylor Swift, Bon Jovi and Kenny Chesney already under way alongside festivals such as  Jazzfest, Coachella and StageCoach. 

http://www.billboard.biz/bbbiz/industry/touring/tim-leiweke-on-aeg-sale-we-re-getting-down-1008105082.story

Treemendous new stage in Hyde Park

The Evening Standard has reported on AEG Live’s new vision for Hyde Park’s summer concerts which will feature an organic food village and an eco-friendly stage made out of living trees. The new operators, who have a five year contract to present events, are investing £3 million in “bespoke” facilities to improve the venue and will build “a great oak stage” to fit in better with the Park. Concert goers will be able to book “treehouse” viewing platforms. Jim King, AEG’s event director, also promised movie-style scenery sets and stalls serving “hand-picked” food and “lots of local produce”. “We want everything to be unique and bespoke and don’t want you to have seen this anywhere else before” telling the Evening Standard. “You will still be able to get a burger — but it’ll be the most amazing, organic one you can get in London.” AEG was awarded a five-year Hyde Park contract by the Royal Parks Agency a month ago. The Agency has agreed to slash the number of concerts next year to six, over the last weekend in June and first weekend in July. AEG will also provide a free “village green” area for those who want to use the park but do not want to buy a ticket to a concert.

http://www.standard.co.uk/news/london/hyde-park-concerts-to-get-treemendous-new-stage-8389668.html

Bush joints AEG

The UK division of AEG Live has announced the appointment of Sam Bush, of live and management company the Sam Bush Organisation, to the role of Director Of Promotions.

AEG ink deal with StubHub

AEG has announced an alliance with eBay ticketing service StubHub which will see the auction site's secondary ticketing set up declared the official resale platform for some US shows promoted or hosted by AEG. Under the new arrangement, resellers using StubHub will be able to have tickets for AEG shows automatically reassigned to buyers using the ticket's barcode, meaning fans buying from the secondary market won't rely on the seller to deliver the ticket. As part of the new alliance, eBay-owned PayPal will also become a payment option on AEG's new primary ticketing service AXS.com.

AEG take on Hyde Park

AEG Live has announced a new deal with the Royal Parks to stage six events in London's Hyde Park each year, including a new festival,  all starting next year. AEG  replaces Live Nation who pulled out from the bidding process, with COO John Probyn highlighting curfew and noise issues, high costs and difficulties in working with the Royal Parks. AEG Europe boss Jay Marciano told reporters: "AEG Live is proud to be partnering with the Royal Parks in the creation of an exceptional and ground-breaking new summer festival for London. Utilising AEG's global resources and expertise in delivering similar landmark music festivals, such as the annual Coachella and Stagecoach festivals in California, this event shall set a new standard for the enjoyment of live music at this iconic location". 

AEG has also announced the appointment of Jeremy King as their new Director of Communications for The O2 in London, 

AEG helps friends

CMU Daily reports that AEG's own ticketing enterprise, AXS, is launching a new service called AXS Invite, which will enable customers booking tickets at venues with allocated seating to reserve seats next to the ones they book, and to then promote those reservations to friends via Facebook and/or email, Initially available at certain specific US venues owned by AEG itself, it's the latest initiative by the live music giant to compete in the ticketing market, which it entered after its rival Live Nation bought Ticketmaster.

AEG priced at $10 billion

The Anschutz Entertainment Group seemingly has a $10 billion price tag and it's thought the 25 page AEG information memorandum will go to dozens of interested parties this week, while those who sign non-disclosure agreements could have access to the live entertainment giant's books by the end of the month. Potential bidders tipped by Reuters include investment company Guggenheim Partners and private equity groups including Bain Capital, Colony Capital and Thomas H Lee Partners, the latter of which helped finance Edgar Bronfman Jr's acquisition of Warner Music in 2004. Liberty Media is also said to be interested - Liberty currently owns a quarter of AEG rival Live Nation.  LA-based billionaire surgeon and biotech entrepreneur Patrick Soon-Shiong, who has been investing in American sports teams, is also rumoured to be interested in leading a consortium to bid for AEG and Larry Ellison, co-founder of IT giant Oracle and America's third richest man, is also interested in buying AEG.

Meanwhile, back at the coal face, AEG boss Tim Leiweke has insisted that it's business as usual at the live firm despite the pending sale, adding that he expects the company's operations to continue unhindered once a transaction is completed.

Anschutz to sell AEG

The Anschutz Company has revealed plans to sell one of its core assets, the Anschutz Entertainment Group, which includes the world's second biggest live music promoter AEG Live, as well as various interests in the sports sector and an extensive network of sports and live entertainment venues. The firm has hired the services of the Blackstone Group to advise on the deal. Anschutz bosses reportedly hope to complete any sale sometime next year.

AEG buys Front Gate

Live music giant AEG Live has further expanded its interests in the US ticketing space by buying Austin-based Front Gate Tickets. AEG has bought Front Gate as part of a joint venture with independent live firm C3 Presents who are also Austin based. One of C3's founders, Charles Attal, was also a partner in Front Gate.

AEG withdraw Jackson insurance claim

Following on from a rather embarrassing leak of emails which could have been interpreted as showing that AEG executives had hidden concerns about Michael Jackson's mental and physical health prior to the planned ‘This Is It’ residency in London’s O2 in 2009, AEG Live has dropped its $17.5 million insurance claim against Lloyds Of London resulting from Jackson's untimely death that year. AEG had tried to claim compensation from Lloyds, which had insured part of the planned 50 night O2 extravaganza. Insurers had claimed that the live firm had misrepresented the state of Jackson's health when taking out its insurance policy. CNN have reported that AEG has now agreed with Lloyds to withdraw it’s insurance claim, and as a result the insurer will have the promoter removed from its lawsuit in the USA, which seeks to void the policy.

The Michael Jackson estate, which controls Michael Jackson LLC, is still pursuing the insurance payout, its lawyer said and is still a defendant in the case brought by Lloyds.

http://www.turnto23.com/entertainment/31423813/detail.html

Who's Who?

AEG Live's merchandising firm BandMerch has announced a long-term worldwide deal with The Who, to coincide with the forthcoming AEG-promoted Quadrophenia tour this autumn, ahead of the 40th anniversary of the band's iconic rock opera next year. The Who previously had a merchandise partnership with the Live Nation group.