Chicago-based Jam Productions Ltd. is likely to be one of the entertainment industry players vying for a piece of Clear Channel’s concert promotions business.
“We’d be interested, without a doubt,” said Jerry Mickelson, co-founder of Jam, the country’s largest independent concert promoter. “If the price is right, there will be some buyers.”
Mickelson said it is difficult to predict the impact of Clear Channel’s decision to spin off its concert promotions.
“Does it mean they sell to somebody else? Do they sell it in pieces? I don’t think anyone can predict what will happen.”
Other likely bidders, said Mickelson, are AEG Live and House of Blues Entertainment Inc., both based in California. “Who else is interested after that, I can’t tell you,” he said.
Representatives at those companies could not be reached for comment.
Clear Channel’s live entertainment unit, which promotes and produces sports events, concerts, theater and museum exhibitions, posted revenue of approximately $2.75 billion last year.
Buying Clear Channel’s promotion unit would put Mickelson at the helm of a company that he bested in court last month.
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JamSports and Entertainment LLC, a company also run by Mickelson, accused Clear Channel of illegally interfering with a deal to promote dirt-track motorcycle racing in arenas across the country.
A federal jury awarded JamSports $90 million in damages.
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