AEG SAYS I’VE GOT IT ALL WRONG

Responding to the LiveWorks Newsletter on a new CEO at AEG, Randy Phillips sent an email to clear things up.  He tells me that I have it all wrong (actually used stronger language than that).  So here is the list of where Randy say AEG is really at…

1) AEG-Live has been ” immencely profitable over the last 7-years”

2) There is no new CEO

3) Randy says his “colleagues have worked tirelessly for our clients and we have shared great success together.”

4) AEG “did not overpay for a bunch of disparate assets and, instead, invested in great executives.”

AEG has great executives, has invested in our business in a very positive way (Nokia Theatres, O2, Staples Center, etc), and has built a great roster of music festivals.  As for Randy’s quote about being profitable for the last 7-years, I guess that just goes to show me that you should try to count other people’s money because with the investments in the Nokias, festivals, and local offices, I just can’t make sense of it. 

Sorry if I upset anyone over there.  That was certainly not the intention which is why I wrote that it was a rumor.

Talk with you soon…

Jim

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