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Media partners create Fuse-AEG

The companies that own concert promoter AEG Live, Ticketmaster and Madison Square Garden are in the process of creating an entertainment concern that will be called Fuse-AEG.

Deal, which was being worked out over the past three weeks, was expected to be completed this week. One insider said it is ultimately about AEG bringing in new partners and firming up its alliance with Ticketmaster.

AEG Live will own 51% of the company, MSG parent Cablevision will have 34% and Barry Diller's IAC will have 15%. There was no definite word on how the company will be structured or what changes will be made.

SOURCE:VARIETY.COM