NEW YORK (CelebrityAccess MediaWire) — Negotiations between IAC/Interactive, Cablevision and AEG Live have apparently come to a dead end after negotiations broke down earlier this week.
Negotiations were underway over a deal worth $350-400 million that would have given two investors a stake in the promoter with Cablevision holding 34% and Ticketmaster with 15% of AEG. The deal is apparently on the rocks however and according to the Wall Street Journal, issues regarding "control and strategy" could not be resolved.
If an agreement had been reached, it would have been a coup for the promoter, providing them with an infusion of $200 million in cash to use in their ongoing struggle with rival promoter Live Nation and establishing an overall valuation for the promoter at $350-400 million. It would have also strengthened Cablevision's hand by linking their holdings such as Madison Square Garden and the Fuse music television channel a link to a major promoter.
Now it appears as if such an agreement is increasingly unlikely. The WSJ also reported that Ticketmaster is unlikely to continue to individually reach an agreement with AEG but that such a deal could be possible in the future. – CelebrityAccess Staff Writers
