O2’s Daunting Jackson Concert Debt
I’ve been wondering about this since his death, the unfortunate consequence of premature celebrity death, via The London Times:
AEG Live, the company that persuaded Michael Jackson to sign up for 50 nights at the O2 arena, is facing a liability of up to £300 million and a dark house for the next nine months.
It was Randy Phillips, head of the US entertainment company that turned the derelict former Dome into the UK’s most popular new arena, who persuaded Jackson to return for a stunning series of “farewell†concerts, beginning next month.
Amid scepticism over whether the frail singer could complete the residency, especially among insurance companies, AEG Live said that it was prepared to “self-insure†the shows.
Reinsurance magazine, which found that there was low demand in the London insurance market for the policy to cover all dates promoted by AEG Live, placed the liability at about £300 million. Read More . . .Â
[…] : O2’s Daunting Jackson Concert Debt […]