Amid a slowdown in the concert business, AEG Live, the second-largest live entertainment company in the world, is talking to the major music companies about taking a minority stake in the business
The Los Angeles unit of AEG, an owner of sports teams and concert and sport venues, has been talking to Universal Music Group, Sony Music Entertainment and Warner Music, sources familiar with the situation said.
The talks could result in either a sale to one of the major music companies or possibly a consortium of bidders, one executive close to the matter said. The discussions are said to have been on and off with Universal for more than a year, but have broadened recently to include other labels.
Others suggest a deal with the music companies could also help shore up AEG Live's competitive position with the world's No. 1 promoter, Live Nation, which recently gained federal approval for its merger with Ticketmaster.
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