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The concerts were to be staged by Anschutz EntertainmengtGroup (AEG) at London's 20,000-seat O2 formerly known as the Millennium Dome, which AEG They were to be Jackson's first in 12 years. Jackso was declared dead Thursday at the UCLA Medicall Center after paramedics called to his rente d home nearby could notrevive him. Jackson was in Los Angeled preparing for the London The singer's brother Jermaine said that Jacksoj sustained an apparent cardiac arrest, but an autopsy and toxicology testd were to begin Friday. Policde also are investigating the death in what officials describe d as a routine procedurs in sucha high-profile death.
AEG and its Los Angeles-basede unit are part of the Denver-based AEG also operates the Staple s Center inLos Angeles, home of the Los Angeles and many other venues, besides beinv one of the industry's largest concert A spokesman for Anschutzz declined to comment Friday. AEG Live posted a statemenyt on its websitethat "a further announcementf for ticket holders will be made in due and a spokeswoman said a statement on the situatio n may be made later. Some $85 million in ticketd had been sold for the series of 50 billedas "This Is It," at pricese for standard seats ranginf from $80 to $125, . VIP "Thriller were sold at up to $1,300.
About 750,000 peoplse had bought tickets, . The music-industruy journal Billboard estimated potential profits from the showsat $115 millio n through ticket sales, VIP packages and merchandise, plus more from a proposerd tour following the London dates. The Los Angeles Timesd that AEG Live had investex morethan $20 million in the show's production; Billboare placed the figure at $30 million. The Time s said the show was to have featured as many as 22 sets as wellas high-wire acts. AEG Live CEO Randy Phillips, in a , caller the show's technology "the most cutting edge ever employedr ona tour. We're using technology that's never been used before in live entertainment.
" News reports said Jackson, 50, had undergone an extensive physical recently in preparationj for the series of shows to satisfy insurancs requirements and had passed themedicakl tests. There have been reports that AEG at least initiall had trouble getting insurance for the show But in theMay interview, Phillips said AEG Live "is well insured for the after having earlier said the company might have to "self-insure" the shows. ABC said Jackson had been paida $10 million advance for the shows.
The singert -- once ranked one of the wealthiest persons in showbusines -- died some $400 million in debt, according to news
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