Irving Azoff Reinvents The Major Record Label

Last week it was announced that the Madison Square Garden Company (MSG) and music business mover and shaker Irving Azoff would enter into a joint venture called Azoff MSG Entertainment (AMSGE). In a move that could provide a peek into what the major record label of the future could be, it's been reported that MSG agreed to pay Azoff Music Management $125 million and contribute a $50 million line of credit to the new company.