Last Update:
03/19/2010 - 4:03pm EST
E-mail
Save This
Add new comment
Digg
Facebook
Fark
Newsvine
StumbleUpon
Twitter
More- Dame Edna, Michael Feinstein square off in critically panned 'All About Me'
- With merger finished, Live Nation Entertainment reportedly begins laying off employees
- Lady GaGa, Kings of Leon tickets on sale throughout the weekend
- Lilith Fair announces first round of presales, onsales for 2010 return
- DOJ official Christine Varney defends Ticketmaster / Live Nation merger
- Philadelphia Phillies' season ticket demands force team to cap sales
- Phish tour maintains zero tolerance stance on ticket resale for summer 2010 concerts
- With attendance down, Golden State Warriors drop ticket prices
- Arizona legislators consider ticket surcharge to help Chicago Cubs build spring training stadium
- Broadway ticket sales skyrocket with the help of four new productions
Fortune At Stake For AEG On Michael Jackson London Concerts
Thu, Jun 25th 2009 8:40 pm EST
Michael Jackson's cause of death may determine whether or not AEG, Jacksons promoter, will be compensated for this loss. More than $85 million worth of tickets must be refunded to consumers. AEG estimated that Jackson was given an advance of $10 million and $30 million has already been spent on production.
Subscribe to this feed
Print
Comments
Comments represent the opinions of users and do not necessarily reflect the views of TicketNews.This should be interesting.. I believe that AEG said that they were adequately protected. Whatever that means coming from a privately held company.
I have to think that the policy for this tour had to be monstrously expensive or did they get very iffy policy.
This might be a classic example of not keeping funds in escrow...
great job AEG and Ticketmaster... and we want to hand Ticketmaster a monopoly..
Um, what does Ticketmaster have to do with this story?
Ticketmaster was the exclusive seller of this tour.
As for AEG, I was reading an article in this week's Rolling Stone (published before Jackson died) and the article indicated AEG was having a very tough time getting insurance for Jackson because of his past health problems. It will be interesting to see how much protection they really did get on him, if any at all. If they weren't able to secure any, that could cripple AEG.