It's been less than 48 hours since it was publicly announced that Irving Azoff is parting ways with Live Nation, the company he led after creating Front Line, the world's largest artist management company, selling it to Ticketmaster, and merging with Live Nation, and there is no shortage of coverage and commentary on why he left and what he'll do next. . Read More
Los Angeles - Live Nation Entertainment (NYSE: LYV) announced on Monday
that it will acquire the remaining stake in artist management firm Front Line
Management it did not already own, from founder Irving Azoff and Madison Square
Garden, in a deal valued at $116.2 million.
“Through this transaction we
will further simplify and consolidate our operating structure,” said Live
Nation president and CEO Michael Rapino.
“By acquiring full ownership of
Front Line, we expect to benefit from substantial savings related to cash
taxes, the elimination of the dividend and operating [...].
Los Angeles - Live Nation (NYSE: LYV) announced on Friday that its
Ticketmaster division will acquire ServiCaixa, the largest ticket retailer in
Spain, from Spanish financial services firm la Caixa.
Financial terms of the
transaction were not disclosed.
The deal will create the largest ticketing
company in Spain, through the combination of Ticketmaster Spain — formerly
known as TickTackTicket — and ServiCaxia, also known as Serviticket.
also allow Ticketmaster to offer tickets through la Caxia’s network of 8,100
ATM machines in the country.
Los Angeles - Concert promotion giant Live Nation (NYSE: LYV) on Friday
announced that its board has named Liberty Media chairman John Malone as interim
chairman of the company. IAC head Barry Diller made his resignation as chairman
of Live Nation official at a board meeting yesterday, at which time Malone
agreed to serve as chairman on an interim basis.
Los Angeles - Live Nation Entertainment has partnered with
Google and HP to develop a "cloud printing" ticketing application,
that would let consumers print out tickets they purchase online to a printer at
the venue, or any printer in the world, Ticket News reports. The service will
reportedly utilize the Google Cloud Print service.
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- The top executives at concert promotion giant Live Nation and Ticketmaster
received hefty bonuses after a merger of the two companies was recently
approved, Hypebot reported, citing an SEC filing. According to the filing, new
Live Nation Entertainment (NYSE: LYV) CEO Michael Rapino received $3 million; executive
chairman Irving Azoff got $2 million; executive vice president Kathy Willard
received $1 million; and executive vice president and general counsel Michael
Rowles was given $500,000.
- The U.S. Justice Department on Monday approved the proposed merger between
Ticketmaster (NASD: TKTM) and concert promotion giant Live Nation (NYSE: LYV). Under the terms, the company — which will be called Live Nation Entertainment — will divest Ticketmaster’s self-ticketing subsidiary, Paciolan, to Comcast-Spectator, and license its Ticketmaster Host technology to rival concert promoter AEG.
The deal also includes other undisclosed "terms that protect competitive conditions in ticketing and promotions."
The companies said 17 State Attorneys General also participated in the [...].