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Cablevision, Ticketmaster in AEG stake talks: report

NEW YORK
Fri Feb 29, 2008 8:55am EST

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NEW YORK (Reuters) - Cablevision (CVC.N) and Ticketmaster are working together to buy a 49 percent stake in concert promoter AEG Live, The Wall Street Journal reported on Friday.

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The deal would bring together concert promotion, ticket sales and music distribution, and pit the companies against Live Nation Inc (LYV.N), which recently split from Ticketmaster to create its own ticketing business, the newspaper said.

The deal would value AEG Live at $350 million to $400 million and have Ticketmaster owning a 15 percent stake and Cablevision a 34 percent stake, according to the report, which cited people familiar with the matter.

The talks, first reported by Billboard magazine on its Web site, may still fall apart, according to the Journal.

Representatives from Cablevision and IAC InterActiveCorp (IACI.O), which owns Ticketmaster, declined to comment on the matter. Spokesmen for Ticketmaster and AEG were not immediately available for comment.

(Reporting by Sinead Carew; editing by John Wallace)
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