why don't they just get it over with, and bring forth the concert monopoly we all know is inevitable? LiveMaster or TicketNation... name won't matter.
AEG Cablemaster In The Works? A partnership between Ticketmaster and Cablevision - owner of all things Madison Square Garden - is poised to buy a 49 percent interest in AEG Live, the world's second-largest concert promoter, if the rapidly building buzz is to be believed.
Naturally, it was a smorgasbord of "no comment" and "we do not comment on rumors" when Pollstar made calls to confirm details.
However, the non-denial denials would fall in line with a need to keep quiet to comply with Securities & Exchange Commission regulations.
AEG Live CEO Randy Phillips wasn't available at press time.
But the premise that Ticketmaster could get into the promotion business isn't new. TM already operates under the same roof as a promotion company in China (Emma Entertainment) and has a cozy partnership with South America facility operator CIE. Why shouldn't TM get involved with North America concert promotion, now that Live Nation is going its own way? Pollstar asked such an open-ended question in October, and nobody laughed. So let's consider what such a marriage would mean.
The advantages for AEG Live and Ticketmaster are obvious - with Live Nation ending its relationship with the ticketing giant at the end of this year, a joining of forces could be a win-win.
AEG Live would gain a ticketing foothold and leverage to compete with Live Nation, and Ticketmaster would retain a large and growing client to help close the gap left by LN's departure.
But the would-be entry of Cablevision into the fray could be even more significant. Barry Diller always strove for the almighty "synergy" among his cache of business holdings but it never gelled. This time though, a combo of AEG, Cablevision and Ticketmaster has synergy written all over it.
AEG would get a ticketing company. AEG has always supported Ticketmaster and, after Live Nation and TM claimed irreconcilable differences, AEG President Tim Leiweke made it clear his company had no intention of following suit.
But what would AEG gain with a 49 percent sale other than integration with Ticketmaster?
How about a venue portfolio that would now include Madison Square Garden, Radio City Music Hall, Beacon Theatre and the Chicago Theatre - all MSG-slash-Cablevision-owned buildings? MSG Entertainment-managed buildings would get AEG Live tie-ins and all would presumably benefit by the Ticketmaster partnership.
And if it all comes to pass as a marriage made in synergistic heaven, it's likely that the best man could very well be Irving Azoff.
Ticketmaster parent and current stakeholder IAC/InterActiveCorp. is also in the Azoff family, holding a chunk of Front Line Management. And though no one is officially acknowledging a deal is in the works, it's not an unreasonable belief that IAC chief Diller might be helping his friends in the Dolan family hammer out a deal.
The New York Post recently reported that Cablevision has been "quietly working" with Bear Stearns to increase shareholder value, including putting a valuation on its Rainbow Media unit, estimated to be worth around $3 billion.
Among Rainbow Media's assets are the Independent Film Channel (IFC), American Movie Classics (AMC) and WE: Women's Entertainment networks. Perhaps even more important is a lesser-known cable channel: Fuse TV.
Primarily a music channel, Fuse airs videos and distributes music programming including "Steven's Untitled Rock Show," "The Sauce" and foreign gems like "Later â?¦ With Jools Holland." It also airs "Fuse Rocks The Garden," a live concert series from the arena which just happens to be right across the street from Fuse's studios.
With AEG Live's production capabilities and the continued backing of media mogul Philip Anschutz, the company would be perfectly positioned to create and distribute its own content, whether it be live performances, films, documentaries or DVD packages.
Live Nation has been a pioneer in 360 deals, at least for promotion companies. AEG says it is not interested in following suit but, if this rumor becomes true, it would go a long way toward evening the scales.
klunk
