Los Angeles - Live Nation (NYSE: LYV), the large concert promoter and venue owner, announced on Thursday that it has sold its North American theatrical business to Key Brand Entertainment for $90.4 million.

Live Nation's Broadway Across America business produces and presents Broadway shows at third-party venues in the U.S. and Canada; it also holds interests in three owned, and five leased or managed theatrical venues in Minneapolis, Boston, Baltimore and Toronto.

The assets acquired by Key Brand generated an estimated $208.1 million in revenue and $8.5 million of income during 2007.

Live Nation has now sold assets with a total gross sale price of over $260 million since 2006.

The company said the sales are part of its strategy to focus on its core music business by divesting non-music or other non-core assets, and utilizing the proceeds from those sales to reinvest in music-related assets.

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