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Live Nation Inc

BUSINESS
February 29, 2008 | From Times Wire Services
Live Nation Inc., the nation's largest live event and venue management company, said it narrowed its fourth-quarter loss from a year earlier but it posted lower revenue as fewer big-ticket artists staged large tours. The Los Angeles-based company reported a loss of $18.4 million, or 25 cents a share, compared with a loss of $33.1 million, or 51 cents, in the quarter a year earlier. Revenue declined about 4% to $1 billion, largely because of the decline in lucrative tours compared with a year earlier.
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BUSINESS
July 28, 2009 | Times Wire Reports
A growing chorus of lawmakers is warning that the proposed merger of ticketing firm Ticketmaster Entertainment Inc. and concert promoter Live Nation Inc. raises serious competition concerns. In a letter to Assistant Atty. Gen. Christine Varney, Sen. Herb Kohl (D-Wis.) called on the Justice Department to approve the deal only if it wouldn't harm competition and lead to higher prices. In a separate letter to Varney, 50 House members said the Justice Department should view the merger "with great skepticism" because the combined company "would enjoy a virtual stranglehold over the live entertainment industry."
BUSINESS
December 2, 2008 | Times Staff and Wire Reports
Blockbuster Inc., the struggling video and game rental company, has signed a three-year ticket distribution deal with Live Nation Worldwide Inc. in Los Angeles, the world's largest live music company. Live Nation's new in-house ticketing company will sell its retail tickets exclusively through some 500 Blockbuster-owned stores in key concert venue markets. The stores will exclusively offer blocks of tickets during the first four hours of ticket sales. The companies also plan to offer exclusive concert products and promotions to Blockbuster customers.
BUSINESS
October 22, 2008 | Swati Pandey, Pandey is a Times staff writer.
Ticketmaster said Tuesday that it would fire about 5% of its global workforce as part of a previously announced cost-reduction plan. The West Hollywood ticket vendor said about 300 jobs would be eliminated. The company has about 6,000 full-time and part-time employees. In August, Ticketmaster said it would reduce operating expenses by about $35 million as it integrated two companies -- ticketing technology maker Paciolan and ticket reseller TicketsNow -- that it acquired earlier this year.
BUSINESS
July 7, 2006 | From Bloomberg News
EMI Group said Thursday that it would distribute the recordings of Mandy Moore and rock group Army of Anyone through a new label created by talent management company the Firm that plans to share profit directly with the artists. The profit-sharing aspect of the label, which hasn't yet been named, differs from traditional royalty agreements, London-based EMI and the Firm said.
BUSINESS
September 29, 2010 | Bloomberg News
Barry Diller said he plans to resign as chairman of Live Nation Entertainment Inc., eight months after a merger that combined the world's largest concert promoter and ticketing companies. Diller said in a statement that while there is "no rush," he told board members Tuesday that they should start the process to appoint a new chairman. Live Nation has faced a disappointing summer concert season in North America with acts such as U2 postponing shows, and its stock plunged 21 percent over two days in July after Chief Executive Michael Rapino said growth had slowed.
BUSINESS
September 20, 2011 | Alex Pham
Universal Music Group Inc., the largest music company in the world, is forming a joint venture to manage musicians with Live Nation Entertainment Inc., the world's biggest ticketing, concerts promotions and artist management firm. The deal puts Universal's small cluster of four management companies under Live Nation's Front Line Management Group, whose 90 executives manage 250 artists, including the Eagles, Jimmy Buffett, Kenny Chesney and Christina Aguilera. Under the agreement, Front Line will oversee the joint venture.
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