In a groundbreaking joint venture that capitalizes on the huge potential of multi-platform live entertainment programming, AEG, a world-leading sports and entertainment presenter; America Online, the world's leading interactive services company; and XM Satellite Radio, the nation's leading provider of satellite radio have joined with entertainment and technology veteran Kevin Wall to create Network Live, an AEG, AOL, XM company.

Network Live is the first multi-platform digital entertainment company committed to delivering live entertainment programming through the Internet, satellite and other third party global media platforms such as VOD, wireless and HDTV. Wall, who most recently served as Executive Producer of Live 8, is the Chief Executive Officer of the newly formed joint venture.

On the heels of the record-setting broadcasts of Live 8 by AOL and XM, and building on the success of the popular AOL Music LIVE! series, Network Live will produce a rich slate of live programming focusing on music and comedy performances - many originating from AEG owned or operated venues worldwide, such as STAPLES Center. The programming will be promoted to AOL's web audience of more than 100 million* and to more than 4.4 million XM Satellite Radio subscribers. The company will also leverage the expertise of AEG's live entertainment division, AEG LIVE, one of the world's leading concert promoters. Network Live programming will add to AOL and XM's own popular original franchises, such as AOL Music Sessions, which has featured many top recording artists, and XM's Artist Confidential and Then...Again...Live!

"This is a network of the future, delivering digital programming to consumers who are hungry for live programming," said Kevin Wall, Co-Founder and CEO of Network Live. "We're thrilled to enter this market with the unique opportunity to immediately tap into AOL's vast audience, AEG's relationships with the most popular performers in the music industry, and XM's growing subscriber base. This will enable us to quickly establish the brand as the place where people can access and interact with live entertainment over digital platforms, guaranteeing the same excitement, energy and immediacy traditionally found when experiencing the event in person."

"This joint venture will produce an enormous variety of live, original entertainment programs," said Hugh Panero, President and CEO of XM Satellite Radio. "Live music has always been an essential part of the XM listening experience, and we look forward to producing more live content for XM, as well as an even broader audience working with AOL and AEG."

"Clearly, content has become a high priority for our company," said Timothy J. Leiweke, President & CEO, AEG. "As one of the largest content providers of live sports and entertainment, we are constantly exploring new modes of distribution as well as the technology and partnerships to help create the model. AOL and XM not only give us the right platform for distribution and future growth, like us, they understand the importance of managing content and its delivery - which ultimately most benefits the consumer."

Leiweke added, "Our goal and ambition, and the goal and ambition of this new partnership is focused on the creation of a 24-hour platform for live entertainment 7 days a week/365 days a year. An ambitious vision but clearly a doable and realistic one due to the resources and expertise that each of the three organizations possess."

"As Live 8 proved, this is a new era for live entertainment on the web," said Jon Miller, Chairman & CEO of America Online, Inc. "This venture taps into the immediacy of the Internet for live shows and live shows on demand. Network Live will enhance the standout video programming lineup that we are now providing free on the web through the AOL.com portal."

AOL.com, the new free portal, is accessible to anyone on the web, making it possible for millions of non-AOL members to experience the breadth and depth of AOL's programming offerings for the first time. The Live 8 concert broadcasts and individual performances from Philadelphia, London, Rome, Paris, Berlin and Toronto are available now through September 5, on demand and in their entirety, at www.aolmusic.com.

With a career spanning four decades, Kevin Wall, formerly Vice Chairman of iXL Enterprises, has been named to the post of Chief Executive Officer of Network Live. Mr. Wall's extensive experience in music promotion and production, live television, the Internet, and venture capital investments in convergence technologies have established him as a visionary who has consistently led the way in discovering new niches in entertainment. Mr. Wall has produced and/or distributed over 400 live events including Live 8, and has worked with such entertainment powerhouses as Bob Dylan, Pink Floyd and the Three Tenors, among many others.