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AOL-Backed Network Live In Trouble?

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Network Live, the ambitious online live music venture which is a three way joint venture between AOL, XM and AEG group, is in some amount of trouble, according to sources we have been speaking to for the last six months or so. DMN has some details about AOL possibly pulling out, here.
We have been hearing some trouble signs as many of the original team have left or laid off, and the company burned through its slate of initial investment money of $30 million very quickly. AOL has been distancing itself and focusing on its AOL Music destination instead.
The company, founded by veteran producer Kevin Wall, was flying high last year, for a very brief period, it initially promised to do five live gigs a week, which never materialized. It wanted to move into other verticals like live comedy, and that hasn’t materialized till now either.
We’re on the case and will have more info later.
@ CTIA: Interview: Kevin Wall, CEO, Network Live: New Vertical Launch Will Be Earlier Than Planned: Audio
Network Live Investment: $30 Million
AOL, AEG and XM To Launch On-Demand รข