ADG Will Refund $85 Million Worth of Michael Jackson Concert Tickets

Posted on June 30, 2009

Concert promoter AEG will refund $80 million worth of tickets sold to the Michael Jackson concerts this summer, due to the singer's premature death.

Concert promoter AEG Live will offer full refunds to those who bought tickets to Michael Jackson's "This Is It" concerts at the O2 Arena in London. Tickets must have been purchased through an authorized agent. Refunds will include all ticket service charges.

The first in Jackson's 50-concert series was skedded for July 13. Jackson died at age 50 on Thursday after going into cardiac arrest. He had been vigorously rehearsing for the 50-show stand at the Staples Center the day before his death AEG said that those who would rather be sent the actual tickets -- designed by Jackson -- may request them in lieu of a refund. "Since he loved his fans in life, it is incumbent upon us to treat them with the same reverence and respect after his death," AEG prexy-CEO Randy Phillips said in announcing the refund policy.

AEG is a part of billionaire Philip Anschutz's Anschutz Corp. AEG is looking at a huge loss on the deal unless it can get the insurer to pay up. Michael Jackson had to pass a physical to get insured for the concerts, but with the recent revelations about Jackson's severe drug addictions we have to wonder: who did the physical exam that said Jackson was in excellent health? You can get more details at Michaeljacksonlive.com.

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