If Michael Jackson would have died from natural causes, AEG would be more screwed than Jenna Jameson back in the 90's. Lucky for them, he died of a drug overdose, which is covered. A death of natural causes, not so much.
The insurance policy, which was taken out, covered them for $17.5 Million dollars. Randy Phillips wants to let us know that the policy will still fall short on money already spent on things such as Micheal's advance pay, producing the show, paying some of MJ's debts, along with staff and rent, which is said to be around $30 million dollars.
It's hard to feel sorry for a company like AEG, who is taking a hit from this, from myself and others. The o2 Arena being empty is killing them. One thing though; just be honest. If you want to charge $25.00 for a memorial service, just be real and say this:
"Look, we dropped a lot of money into this and we are really in the red. We do not want to charge for the service, but we have to. We also will be selling t-shirts that would have been sold at the o2 Arena shows to recoup some of that money and pass the shirts on to the fans. We regret having to do this in these economic times, but we had to. We appreciate your understanding in this situation and thank you for your support."
Now, if they came at us like that, people would understand and then you wouldn't have had to quickly turn around and have a PR nightmare where you have to now "give away" 11,000 tickets. Be honest and be real, and you will be respected. Peace.-Dr.FB