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BUSINESS
January 27, 2010 | By Dawn C. Chmielewski
One day after the merger of concert industry giants Ticketmaster Entertainment and Live Nation gained regulatory approval, cable mogul John Malone moved to vastly increase his stake in the newly formed colossus. Malone's Liberty Media Corp. made a tender offer Tuesday to acquire 34.5 million shares of Live Nation Entertainment for $12 each. If fully subscribed, Liberty's stake in the company would more than double to 35%. The move strengthens the alignment of Malone and Live Nation Entertainment Chairman Barry Diller, who two years ago battled over plans to split Internet conglomerate IAC/InterActiveCorp into five companies.
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ENTERTAINMENT
August 3, 2012
In a move that was foretold the moment Ticketmaster merged with Live Nation, L.A.'s little promoter that could Spaceland Presents has linked with San Francisco's independent ticket supplier, Ticketfly. Spaceland and Ticketfly have been working closely together for about a month now, and today are celebrating their newfound business partnership by offering tickets without service fees from noon till midnight at Spaceland-promoted gigs.  Spaceland, which promotes shows at the Echo and Echoplex in Echo Park, as well as hosting events in Pershing Square, t he Los Angeles County Natural History Museum and the Getty, has had a long-standing relationship with Ticketmaster's TicketWeb.
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BUSINESS
March 25, 2009 | TIMES WIRE REPORTS
Ticketmaster Entertainment Inc. had its credit rating lowered one level to BB from BB-plus by Standard & Poor's Corp., which cited the company's fourth-quarter results and rising debt leverage. Ticketmaster, which is seeking to merge with concert promoter Live Nation Inc., may remain under pressure for at least the first half of 2009 as the recession cuts consumers' leisure spending, S&P said. As of Dec. 31, the West Hollywood-based ticket seller had total debt of $865 million, S&P 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
October 17, 2009 | Times Wire Reports
Ticketmaster Entertainment Inc. and Live Nation Inc. are considering the sale of some ticketing assets to ease U.S. regulators' antitrust concerns over their merger, a person with knowledge of the talks said. The live-music companies met with Justice Department officials last week and were told by antitrust enforcers to address concerns that the deal would concentrate too much power in ticketing, sources said. The Justice Department hasn't decided whether to block the merger, the people said.
BUSINESS
March 20, 2009 | Associated Press
Ticketmaster Entertainment Inc. lost $1.07 billion in the fourth quarter, as the ticket-selling company that hopes to merge with concert promoter Live Nation Inc. had to take a huge impairment charge to account for its falling share price. Ticketmaster said Thursday that the loss amounted to $18.82 a share in the three months that ended Dec. 31. The $1.
BUSINESS
February 6, 2009 | Times Wire Reports
Shares of Warner Music Group Corp. rose after the record company reported a profit from the sale of its stake in an artist-management company to Ticketmaster Entertainment Inc. First-quarter net income of $23 million, or 15 cents a share, compared with a loss of $16 million, or 11 cents, a year earlier, the New York-based company said. Excluding the asset sale, Warner had a loss of 9 cents, better than the 14-cent average loss from eight analyst estimates compiled by Bloomberg. Chief Executive Edgar Bronfman Jr.'s push into online and mobile music sales failed to compensate for declines in compact disc sales.
BUSINESS
February 3, 2010 | By Todd Martens
With concert giants Live Nation Inc. and AEG based in Los Angeles, there's little room for an independent promoter to maneuver. Yet Mitchell Frank and his Spaceland Productions have managed to thrive. Putting on shows under the Spaceland brand since 1995, Frank hosts concerts at just three Silver Lake and Echo Park venues: Spaceland, the Echo and the Echoplex. That would seem to put Frank below the radar of major operators. But in the wake of the Department of Justice giving the green light, albeit with conditions, to a merger between promoter and venue owner Live Nation and ticketing agency and management firm Ticketmaster Entertainment, Frank suddenly finds himself in the unenviable position of making money for the competition.
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
October 9, 2009 | Ben Fritz
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.
BUSINESS
February 3, 2010 | By Todd Martens
With concert giants Live Nation Inc. and AEG based in Los Angeles, there's little room for an independent promoter to maneuver. Yet Mitchell Frank and his Spaceland Productions have managed to thrive. Putting on shows under the Spaceland brand since 1995, Frank hosts concerts at just three Silver Lake and Echo Park venues: Spaceland, the Echo and the Echoplex. That would seem to put Frank below the radar of major operators. But in the wake of the Department of Justice giving the green light, albeit with conditions, to a merger between promoter and venue owner Live Nation and ticketing agency and management firm Ticketmaster Entertainment, Frank suddenly finds himself in the unenviable position of making money for the competition.
BUSINESS
January 27, 2010 | By Dawn C. Chmielewski
One day after the merger of concert industry giants Ticketmaster Entertainment and Live Nation gained regulatory approval, cable mogul John Malone moved to vastly increase his stake in the newly formed colossus. Malone's Liberty Media Corp. made a tender offer Tuesday to acquire 34.5 million shares of Live Nation Entertainment for $12 each. If fully subscribed, Liberty's stake in the company would more than double to 35%. The move strengthens the alignment of Malone and Live Nation Entertainment Chairman Barry Diller, who two years ago battled over plans to split Internet conglomerate IAC/InterActiveCorp into five companies.
BUSINESS
October 17, 2009 | Times Wire Reports
Ticketmaster Entertainment Inc. and Live Nation Inc. are considering the sale of some ticketing assets to ease U.S. regulators' antitrust concerns over their merger, a person with knowledge of the talks said. The live-music companies met with Justice Department officials last week and were told by antitrust enforcers to address concerns that the deal would concentrate too much power in ticketing, sources said. The Justice Department hasn't decided whether to block the merger, the people said.
BUSINESS
October 9, 2009 | Ben Fritz
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.
BUSINESS
August 14, 2009 | Times Staff and Wire Reports
Ticketmaster Entertainment Inc. said its second-quarter net income plunged 70% as ticket sales volumes fell and it booked expenses related to its pending merger with concert promoter Live Nation Inc. Net income in the quarter that ended June 30 dropped to $7 million, or 12 cents a share, from $23 million, or 41 cents, a year earlier. Revenue fell 7% to $355 million. Excluding $5 million in merger costs, adjusted earnings hit 20 cents a share.
BUSINESS
March 20, 2009 | Associated Press
Ticketmaster Entertainment Inc. lost $1.07 billion in the fourth quarter, as the ticket-selling company that hopes to merge with concert promoter Live Nation Inc. had to take a huge impairment charge to account for its falling share price. Ticketmaster said Thursday that the loss amounted to $18.82 a share in the three months that ended Dec. 31. The $1.
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