Madison Square Garden has acquired a minority equity interest in Front Line Management, the Irving Azoff-led management firm held by IAC and Warner Music Group.

Front Line represents a wide range of major artists, including the Eagles, Jimmy Buffett, Neil Diamond, Van Halen, Fleetwood Mac, Christina Aguilera, Stevie Nicks, Aerosmith, Steely Dan, Chicago, Journey, and Guns N' Roses. Financial terms were not released.

"While Madison Square Garden has always been synonymous with history-making music, we are currently in the midst of a significant expansion of our music business. We have added to our unrivaled list of iconic venues, re-launched Fuse as the country's only network dedicated to music and now, have taken an interest in the world's number one artist management company, Front Line," Hank Ratner, vice chairman, Madison Square Garden and Cablevision Systems Corporation, said in a prepared statement. "This acquisition perfectly complements our current assets and strengthens our strategic vision to grow our music portfolio, a major component of our current business plan."

"We invited Madison Square Garden to be one of the Front Line Management partners due to their extraordinary commitment to artists," Azoff said in a statement. "MSG's diverse resources complement our management mandate to create new and exciting artist opportunities and marketing platforms on behalf of our artist roster."

Madison Square Garden recently added the Beacon Theatre and the Chicago Theatre to its list of premiere venues. Fuse is currently in almost 60 million homes, and is in the midst of a major re-launch. Madison Square Garden, L.P. is owned by Cablevision Systems Corporation.

Azoff is the largest shareholder of Front Line Management.

For more analysis of this deal check out this week's Billboard.