Advertisement
YOU ARE HERE: LAT HomeCollections

Earnings Roundup

Live Nation

Loss widens as concert sales fall

August 07, 2009|Times Wire Reports

Music promoter Live Nation Inc. reported a wider second-quarter loss on a drop in concert revenue and costs for the planned merger with Ticketmaster Entertainment Inc.

The net loss expanded to $27.2 million, or 33 cents a share, from $652,000, or 1 cent, a year earlier, Beverly Hills-based Live Nation said.

Sales fell 5.9% to $1.06 billion, missing the $1.16 billion projection of analysts surveyed by Bloomberg.

Live Nation spent $14.9 million on the planned merger with Ticketmaster, which is under review by the U.S. Justice Department.

The company expects the deal to close in the fourth quarter.

International concert sales fell 19% to $332.3 million because of currency changes.

Live Nation shares fell 1 cent to $6.08.

Advertisement
Los Angeles Times Articles
|
|
|