July 6, 2006 |
The concert industry contracted further Wednesday when the country's largest promoter, Live Nation Inc., agreed to pay $350 million to acquire its closest competitor, House of Blues Entertainment Inc. The deal would add House of Blues' eight amphitheaters and 10 clubs -- including the famed location on Sunset Boulevard -- to the 153 venues managed by Live Nation, which spun off in December from radio giant Clear Channel Communications Inc.
February 14, 2009 |
Live Nation Inc.'s largest shareholder may oppose the proposed merger with Ticketmaster Entertainment Inc. if Barry Diller has a leadership role in the new company. "I'm very much against going into business with Mr. Diller" because of poor returns from companies he leads, said Sam Shapiro, chairman of Shapiro Capital Management. The investment firm owns a 15% stake in Live Nation, according to Bloomberg data.
March 21, 2009 |
The Department of Justice has asked Ticketmaster Entertainment Inc. and concert promoter Live Nation Inc. for more information about their proposed merger, the companies said Friday. It is the second request from the Justice Department, indicating that it is scrutinizing the deal more closely than most. The companies said the request was expected, and they are cooperating with the antitrust investigation.
October 9, 2009 |
Sorry, old chum. Ticketmaster Entertainment Inc. and Live Nation Inc. may have to divest assets in the United Kingdom to go ahead with their proposed merger, British regulators said Thursday. The Competition Commission, which investigates mergers for the British government, issued a provisional ruling that the merger of ticketing giant Ticketmaster and concert production company Live Nation could "severely inhibit" German ticketing company CTS Eventim. CTS signed a deal before the proposed merger was announced in February to sell tickets to music events for Live Nation in Britain.
April 1, 2008 |
Live Nation Inc. said Monday that it had reached an agreement for a 12-year global contract to handle the merchandising, digital and branding rights as well as the touring of Irish rock band U2. The Beverly Hills company has been expanding its business model to develop more far-reaching and deeper relationships with artists beyond just handling their touring.
September 26, 2006 |
The nation's largest concert firm and the industry's ticketing powerhouse may be headed for a behind-the-curtain tussle. At issue: control over the spiraling cost of show admissions that are turning off many music fans. On one side is Live Nation Inc. Chief Executive Michael Rapino, who has vowed to drive down prices that last year soared to an average of $57 per ticket for the most popular shows.
October 11, 2007 |
Madonna, who long ago reshaped the definition of a pop superstar, now appears intent on redefining the traditional model of a record label, according to people familiar with a possible 10-year, $120-million deal that is under negotiation. Reports have been circulating since June that the 49-year-old icon might walk away from her longtime label, Warner Music, to sign a comprehensive deal with Live Nation Inc., the concert promoter.
February 25, 2009 |
Senators and independent concert promoters took turns at a hearing Tuesday slamming a proposed merger of two of the biggest forces in the music industry -- Ticketmaster Entertainment Inc. and Live Nation Worldwide Inc. "It seems to be monopolistic, plain and simple," Sen. Charles E. Schumer (D-N.Y.) said. "This is not the American dream, as the companies' witnesses might have you believe."
February 27, 2009 |
Ticketmaster's chief executive sought to allay antitrust fears Thursday over the ticket seller's planned merger with concert promoter Live Nation by revealing that a major venue operator has threatened to cancel its contract if the merger goes through. The revelation, made before a House subcommittee examining the deal for antitrust concerns, was meant to suggest that the merger might weaken Ticketmaster Entertainment Inc.'s grip on ticket contracts with a majority of top U.S. venues.