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Live Nation Completes $354 Million Purchase of House of Blues

Authored by Mark Hefflinger on November 6, 2006 - 7:47pm.
Los Angeles - Live Nation, one of the nation's largest concert promoters and venue owners, announced on Monday that it has completed its $354 million acquisition of House of Blues.

The U.S. Department of Justice cleared the acquisition on Oct. 27. With the completed deal, Live Nation, a spinoff from radio giant Clear Channel, now owns, operates or has booking rights for more than 170 venues, including House of Blues-branded venues.

"The House of Blues brand is one of the most highly recognizable names in live music and we are excited about the strong foothold House of Blues provides us in the small-sized music venue segment of the market," said Live Nation president and CEO Michael Rapino. "This acquisition also extends our music venue portfolio into Canada and amphitheater presence into key markets in the western United States, complementing our already strong East coast venues."

Related Links:
http://biz.yahoo.com/prnews/061106/lam074a.html?.v=1
http://www.livenation.com
http://www.hob.com
tags: Deals | Music Deals | Music | Live Music | Concerts | Acquisitions | Live Nation | House of Blues |



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