The wording of AEG’s release about the restructuring is bitter cold: The company “has ended its relationship with Randy Phillips, the CEO of AEG Live, and is restructuring the management of that live entertainment subsidiary” it said. There’s no word of thanks — or anything about what happened, or will happen, with Phillips, who joined AEG Live in 2002 and last year signed a five-year contract. The announcement says that Jay Marciano, who was COO, is now chairman and will oversee a team in LA of Paul Tollett, John Meglen, Shawn Trell and Rick Mueller. “I look forward to my greater involvement with the enormously talented AEG Live Team in continuing to invest and grow one of AEG’s most important divisions,” Marciano says. Billboard’s industry specialist Ray Waddell reports that AEG is the world’s No. 2 concert promoter, behind Live Nation, and has grossed $1.1B in ticket sales so far this year with tours including Bon Jovi, the Rolling Stones, Justin Bieber, Carrie Underwood, Taylor Swift and Kenny Chesney. Last month a jury found the company not guilty in the wrongful death suit filed by the family of Michael Jackson. AEG Live’s parent, Anschutz Entertainment Group, put itself on the block in September 2012 — but ended the auction process in March. It said at the time that owner Philip Anschutz “will resume a more active role” especially with its “world-wide strategy and operations” and that Tim Leiweke would leave as CEO, to be replaced by Dan Beckerman, who was COO and CFO.
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