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Cablevision and Ticketmaster are having second thoughts about their proposed investment in AEG Live, according to the Wall Street Journal. The Journal cited "people familiar with the matter," and noted that sticking points surrounded control and strategy of the resulting consortium. Originally, Cablevision Systems moved to purchase a 15 percent stake, and IAC/InterActiveCorp-owned Ticketmaster angled for a 34 percent piece of the live performance heavyweight.
The diversified AEG Live would have expanded the possibilities for all participants involved, and fueled stronger competition with Live Nation. Cablevision, which controls Madison Square Garden and Fuse TV, would also enjoy a richer portfolio of live performance venues. And Ticketmaster, which is exiting a lucrative, long-term deal with Live Nation, would suddenly jump back into the game. AEG Live is a division of Anshutz Entertainment Group.
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