"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 and 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."

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.

Network Live programming will add to AOL and XM's own popular original franchises, such as AOL Music Sessions and XM's Artist Confidential.