AEG will have to refund up to $85m (£52m) to fans who purchased tickets for Jackson's 50-date residency at London's O2 arena. It is also believed to have spent $23-25m (£14-15m) on production costs. Phillips said those "hard costs" were covered by insurance, although profits were not. Phillips admitted the biggest problem facing AEG at the moment was what to do with the O2 Arena, which now lies empty for 50 nights.
On The Beach - Blackpool has been picked to host this year's Royal Variety Performance, which will feature Britain's Got Talent winners Diversity. Blackpool council leader Peter Callow said it was a "major coup", adding: "We won't let the Queen down." The event, which was last held in the town in 1955, was first staged in 1912. "It is obviously going to take place in our world famous Opera House, I think a lick of paint might not go amiss," Mr Callow said. The venue, which seats 2,900 people, was also used to host the show in the 1950s, when Morecambe and Wise, Arthur Askey and George Formby were on the bill.
Passing Shark - Music entrepreneur Allen Klein, blamed by many for contributing to the demise of The Beatles, has died in New York at 77 after suffering from Alzheimer's. In a career spanning five decades, Klein earned a reputation as a ruthless operator, extracting lucrative deals from labels for his clients. In the mid-1960s, he managed The Rolling Stones for five years. Later managing The Beatles, he tried and failed to secure control of copyrights on their behalf. "Don't talk to me about ethics," he once told Playboy magazine. "Every man makes his own. It's like a war." He said John Lennon had hired him to protect his interest in The Beatles, because he wanted what he called "a real shark - someone to keep the other sharks away".
Take That One - The reunited boy band have concluded their nationwide Circus Live tour with a show at London's Wembley Stadium. Beginning in Sunderland on 5 June the month-long tour has been witnessed by more than one million people. Speaking to Radio 1's Chris Moyles following the final show, Gary Barlow confirmed the band will tour again. He said: "We want to do some more, we want to go back out again. We'll come at it fresh next time and see where we go." Barlow also confirmed that the live show won't be visiting Europe following the success of the 20-date UK tour, saying it was "just so expensive to travel it". The record breaking tour has seen 1,080,000 people witness the extravagant gigs as fans spent £50 million on seeing the shows.
Take That Two - The group has won their second Silver Clef award, recognising an 18-year chart career. They have now eclipsed the likes of Sir Paul McCartney and The Rolling Stones, who have only received the prize once. The trophy is awarded each year to raise funds for music therapy charity Nordoff-Robins. Gary Barlow announced that he and his bandmates would donate £50,000 to the cause.
Other winners at this year's ceremony at the London Hilton included Madness, who picked up the Icon award, and Queen, who were named Ambassadors of Rock. Beach Boys' frontman Brian Wilson attended the ceremony to collect a trophy for Best International Act. The annual event, which has so far raised over £7.5m for Nordoff-Robbins, also featured an auction of one-off music memorabilia items, including a one-off Mini Cooper, designed by former Silver Clef recipien
