AEG Live, Ticketmaster, Cablevision Deal
Posted by T Rex on February 28, 2008
Add another battle to the growing list, Pepsi vs Coke, Microsoft vs. Apple, Hillary vs Obama and now AEG Live vs Live Nation. Unfortunately, even after this deal tickets won’t be any cheaper or easier to get.
Billboard.biz is reporting that a deal is imminent for a partnership of Ticketmaster and Madison Square Garden Entertainment owner Cablevision to acquire about 49% of AEG Live. If all the various components of this AEG Live/Cablevision/Ticketmaster deal come into play, AEG Live should be able to compete even more fiercely with Live Nation, who will leave Ticketmaster when its contract expires in 2009 and launch its own ticketing company.-Billboard.biz
Michael Rapino CEO of Live Nation reaction “If those rumors are true and there’s investments made into a competitor like AEG, for one it validates the frenzy around the live business,” Rapino said today (Feb. 28) during an investor’s conference call. “Everybody wants to figure out how to get control of that content and ticket to build upon their business model.”
Read Bob Lefsetz’s reaction and thoughts on this proposed mega deal. “Let’s see how this shakes out. Will this new consortium figure out a way to break acts? As the major labels decline, who will control this process? It’s harder than ever to BREAK on the road, since the economics suck. Will acts continue to break via recorded music and then fall into the hands of AEG? Can a new concert promotion company be founded to compete? Only with a fuck of a lot of money. And didn’t that Wall Street analyst say the business was a river of nickels?”