AEG talking to majors

COUNTER PLAY: AEG Live is talking to UMG, Sony Music and Warner Music about taking a minority stake in the business, the N.Y. Post reported this morning. The talks could result in either a sale to one of the majors or possibly a consortium of bidders, one executive close to the matter said. The discussions are said to have been on and off with Universal for more than a year—though a UMG spokesman denies the two companies are talking—but have broadened recently to include other labels. While no one is clear on the rationale for AEG's stake sale, some suggest it could be driven by the desire to raise capital while the concert business is still breathing—if with some difficulty. A more likely motivation is that AEG is trying to expand its assets in response to the merger of Live Nation and Ticketmaster. (6/18a)