What will happen to Jackson concert promoter AEG?
Celebrifi - 3rd Jul 2009
Reuters
Michael Jackson: What will happen to AEG live, the concert promoter behind
Michael Jackson's planned London residency?
Randy Phillips says
Michael Jackson's death will not spell the end of his company, AEG Live: "People have speculated that this is going to bankrupt our company. The truth is, it isn't."
Phillips said insurance was in place to cover
Jackson's advance, although insurers may not pay out if the star's death turns out to be drug-related.
He added that money could be recouped from footage of the tour rehearsals.
A short video of
Jackson's final run-through of the This Is It concert was released to media on Thursday, and Phillips says more could be released commercially.
"We own the intellectual property. It is our responsibility... to monetize as much of these assets as we can under the original contract, because the majority of the profit would go to the estate."
The promoter added that the rehearsal videos contained "some of the most compelling footage in the 21st century, because you're talking about a star whose light shined brighter than anything else in the universe when it comes to music".
Via
BBC.
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