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