Anschutz Entertainment Group (AEG) and the estate of Michael Jackson have agreed to provide $1.3 million to the city of Los Angeles to help cover the cost of last year’s memorial for the entertainer at Staples Center, Councilwoman Jan Perry said today.

So says a breaking story release in the LA Times.

Interesting timing, as there were hundreds of police protecting the area around AEG’s Staple Center after the LAkers took the NBA title just two days ago. The estimate of the costs to the city for the Jackson event was 3.2 million dollars. 

AEG later was paid 60 million for the clips that eventually were turned into the movie This Is It, also staged at the Staples Center. The movie was premiered at the LA Live Nokia Theater, also owned by AEG. 

A million is better than nothing, and the city has probably spent a lot of that in documenting paperwork and lawyer fees. But one supposes that they would never hold a grudge and further corporate events will get full support of the city. 

…continuing the LATimes breaking news… 

Under the agreement, the city’s general fund – which pays for basic services such as public safety and parks – would receive $1 million. Another $300,000 would be provided in the form of a contribution to the Los Angeles Police Foundation to pay for equipment at the Los Angeles Police Department, she said.

The memorial was staged at the Nokia Theater at Staples Center, both of which are owned by AEG. The cost of the event was viewed as controversial at a time when the city is scaling back services and laying off city employees. A city report last year put the total cost of the event at $3.2 million.

 

 

 

More soon at: http://www.latimes.com/

 

 

 

Los Angeles Times | June 18, 2010 | 11:14 a.m.