In an exclusive interview with Ray Waddell of Billboard, AEG Live CEO said that while the fallout from Michael Jackson’s death presents one of the biggest legal and financial challenges in concert history, the subsequent cancellation of the shows the company was to produce will not bankrupt it. Waddell, who will be a speaker at the upcoming Ticket Summit in Las Vegas July 15-17, also learns from Phillips that about $25 million in AEG Live’s hard costs for the London shows could be covered by insurance, but the potential profits were not covered.
