Wednesday, July 13, 2005

XM, AOL Create Joint Venture

XM Satellite Radio, America Online, and Staples Center owner AEG said yesterday that the three companies are creating a Los Angeles-based joint venture to focus on multi-platform digital entertainment. The new company, Network Live, will focus on delivering live entertainment programming through the Internet, satellite, and other media such as wireless and HDTV broadcasts. The firms said that the joint venture will produce live programming focused on music and comedy performances for AOL's web audience and XM Satellite Radio's subscribers. The new company will be headed by Kevin Wall, most recently Executive Producer of Live 8. Wall also was Vice Chairman of iXL and is a partner at Shelter Capital Ventures. AEG is a subsidiary of The Anschutz Corporation and owns the Staples Center, the Home Depot Center, the Manchester Evening News Arena, the Los Angeles Kings, and part of the Los Angeles Lakers. More information »