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Earnings Roundup / Live Nation

Loss widens after write-down

March 03, 2009|Times Wire Reports

Live Nation Inc., the concert promoter that plans to merge with Ticketmaster Entertainment Inc., reported a wider fourth-quarter loss Monday after writing down the value of some assets because of a drop in its stock.

The company's net loss was $337.5 million, or $4.33 a share, compared with a loss of $18.4 million, or 25 cents, a year earlier, Live Nation of Beverly Hills said. Sales declined less than 1% to $916 million.

Live Nation shares fell 34 cents to $3.17. The stock has declined 73% in the last year.

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