AEG Live CEO Randy Phillips sat down with media outlets today (July 2) at the Staples Center in Los Angeles to discuss the fallout of what would have been a 50-show run by Michael Jackson at the O2 Arena in London.

Jackson's concerts at the O2 Arena, which is operated by AEG Live parent AEG, would have been the highest-grossing single concert engagement. Now, a week after the singer’s death, it's a major problem for the promoter.

Billboard attended today’s news conference at the Staples Center, where Phillips elaborated on ticket refunds for the concerts, rehearsal footage taken the week before the singer's death, open dates at the O2 Area, a possible Jackson tribute show in London, and much more.

Ticket Refunds
The $85 million reportedly in the bank from ticket sales of more than 750,000 will go back to the public in the biggest refund program the concert business has ever seen. Below, Phillips gives details about how the ticket refund process is going for the canceled 50-show run. See below.

Michael Jackson Tribute Concert At 02
Rumors are circulating that AEG could further mitigate its losses by creating a tribute show that uses Jackson's elaborate stage production. Phillips says AEG is already receiving calls from interested artists. See below.

Michael Jackson Rehearsal Footage
Here, Phillips addresses Jackson rehearsal footage that was released to the media on July 2. AEG owns the video and audio footage from Jackson's rehearsals, which includes onstage performances from the week of his death. See below.

Open Dates At The O2 Arena
AEG is under pressure to book the O2 for some of Jackson's dates. That's "the toughest hit," Phillips recently told Billboard. In this video clip, the exec touches on what’s in store for the open dates at the O2, which is operated by AEG Live parent AEG. See below.

Click here to watch more video clips of AEG Live CEO Randy Phillips.