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Live Nation Entertainment

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"Live Nation" redirects here. For its live events subsidiary, see Live Nation (events promoter).
Live Nation Entertainment
Company typePublic company
NYSE: LYV
IndustryEntertainment
Founded2010
HeadquartersBeverly Hills, California
Area served
Worldwide
Key people
Michael Rapino (CEO, director, president)
ProductsTicketmaster
Live Nation Concerts
Front Line Management Group
Live Nation Network
RevenueIncrease US$ 5.06 billion (2010)
Increase US$ 82.14 million (2007)
Increase US$ -11.94 million (2007)
Total assetsIncrease US$ 2.752 billion (2007)
Total equityIncrease US$ 907 million (2007)
Number of employees
Full-time: 4,700
Part-time: 15,900
Websitelivenationentertainment.com

Live Nation Entertainment (NYSE: LYV) is an American entertainment company, formed from the merger of Live Nation and Ticketmaster. The leadership consists of John C. Malone, Chairman of Liberty Media as Chairman and Michael Rapino, (currently Chief-Executive-Officer of Live Nation) as President and CEO of the new company. On January 24, 2011, media executive Barry Diller resigned from the board of directors after a reported internal boardroom struggle.[1]

In order to complete the merge, Live Nation and Ticketmaster will need approval from their shareholders, California State Regulators (as both companies are based in California), and Federal regulator approval. At this time, the Federal regulator response is the only outstanding approval.

The proposal has received regulatory approval in Norway and Turkey.[2] The United States Justice Department approved the merger on January 25, 2010 with some conditions to which both parties agreed.[3]

In October 2009, the United Kingdom's Competition Commission provisionally ruled against the merger[4] but on December 22, 2009, the Competition Commission reversed itself and decided to clear the proposed merger.[2]

Clearance & Divestment of Assets to Merge

Separate regulatory reviews of the proposal were continuing in the United States and Canada.[2] On January 25, 2010, the United States and Canadian governments cleared the way for Live Nation and TicketMaster to merge.[5] Irving Azoff is chairman and founder of Azoff Music Management Group, Inc. In late 2008, he became chairman and CEO of Ticketmaster Entertainment. He is now Executive Chairman of Live Nation Entertainment

As part of the agreement with Governments to merge, Ticketmaster has to sell its ownership in its self ticketing company, Paciolan (which they have a deal to sell to Comcast-Spectacor). According to the Associated Press, Live Nation Entertainment will be under a 10-year court order prohibiting it from retaliating against venues that choose to accept competitors' ticket-selling contracts, and it "must allow venues that sign deals elsewhere to take consumer ticketing data with them".[6][7]

Also the new company will have to license a copy of its ticketing software to two companies — Anschutz Entertainment Group (AEG) and either Comcast Spectacor or another “suitable” company — so that both companies can compete “head-to-head” with Ticketmaster for venues’ business. After five years, AEG will have the option of buying the software, replacing it with something else or partnering with another ticketing company.[8]

Opposition to merger

A group including members of the United States Congress and business rivals of Ticketmaster and Live Nation had urged the US Department of Justice to stop the merger. The Computer & Communications Industry Association (CCIA), whose members include Google, Oracle Corporation, Microsoft, Yahoo, Intuit and eBay, also opposed the merger.[9][10]

Venues

  1. PNC Bank Arts Center
  2. Nikon at Jones Beach Theater
  3. NYCB Theatre at Westbury
  4. Irving Plaza
  5. Gramercy Theatre
  6. Roseland Ballroom
  7. Foxwoods Theatre
  8. San Manuel Amphitheater
  9. Verizon Wireless Amphitheatre (Irvine)
  10. Gibson Amphitheatre
  11. Hollywood Palladium
  12. Wiltern Theatre
  13. Avalon Hollywood (booking only)
  14. First Midwest Bank Amphitheatre
  15. Susquehanna Bank Center
  16. Tower Theater
  17. The TLA
  18. Boyd Theatre
  19. Gexa Energy Pavilion
  20. Shoreline Amphitheatre
  21. Sleep Train Pavilion
  22. Mountain Winery (booking only)
  23. The Fillmore
  24. Nob Hill Masonic Auditorium
  25. Punch Line San Francisco
  26. Cobb's Comedy Club
  27. Comcast Center
  28. Bank of America Pavilion
  29. Aaron's Amphitheatre at Lakewood
  30. Chastain Park Amphitheatre
  31. The Tabernacle
  32. Jiffy Lube Live
  33. Warner Theatre
  34. Cynthia Woods Mitchell Pavilion (booking only)
  35. Verizon Wireless Theater
  36. The Fillmore Detroit
  37. Saint Andrew's Hall
  38. Ashley Furniture HomeStore Pavilion
  39. Comerica Theatre
  40. White River Amphitheatre
  41. Maryhill Winery (booking only)
  42. 1-800-ASK-GARY Amphitheatre
  43. Bayfront Park Amphitheater
  44. Pompano Beach Amphitheater
  45. The Fillmore Miami Beach at Jackie Gleason Theater
  46. Revolution Live (booking only)
  47. Comfort Dental Amphitheatre
  48. Fillmore Auditorium
  49. Blossom Music Center
  50. Sleep Train Amphitheatre
  51. Verizon Wireless Amphitheater (St. Louis)
  52. The Pageant (50%)
  53. Verizon Wireless Amphitheatre (Charlotte)
  54. Road Runner Mobile Amphitheatre
  55. The Fillmore Charlotte
  56. First Niagara Pavilion
  57. Time Warner Cable Music Pavilion
  58. Raleigh Amphitheater and Festival Site (booking only)
  59. Verizon Wireless Music Center (Indiana)
  60. The Lawn at White River State Park (booking only)
  61. Murat Shrine
  62. Cricket Wireless Amphitheatre
  63. SDSU Open Air Theatre (booking only)
  64. Viejas Arena (booking only)
  65. The Comcast Theatre
  66. Rentschler Field (booking only)
  67. Mohegan Sun Arena (booking only)
  68. Oakdale Theatre
  69. Starlight Theatre (booking only)
  70. Riverbend Music Center (booking only)
  71. PNC Pavilion
  72. Bogart's
  73. Germain Amphitheater
  74. Alpine Valley Music Theatre
  75. Verizon Wireless Music Center (Birmingham)'
  76. Pearl Concert Theater (booking only)
  77. Farm Bureau Live at Virginia Beach
  78. Hard Rock Pavilion
  79. Sandia Casino Amphitheater (booking)
  80. The Louisville Palace
  81. Darien Lake Performing Arts Center
  82. Toyota Pavilion at Montage Mountain
  83. Saratoga Performing Arts Center
  84. The Gorge Amphitheatre
  85. Jamboree in the Hills
  86. Molson Canadian Amphitheatre
  87. Rogers Arena (booking only)
  88. Commodore Ballroom (booking only)
  89. Wembley Arena
  90. Little John’s Farm
  91. Motorpoint Arena Sheffield
  92. Southampton Guildhall
  93. Heineken Music Hall
  94. Motorpoint Arena Cardiff
  95. The O2 (Dublin)
  96. Torino Palasport Olimpico
  97. Torino Palavela

References

  1. ^ Peoples, Glenn. "SEC Filing Confirms Date Barry Diller Resigned From Live Nation Board". The Hollywood Reporter.
  2. ^ a b c "Ticketmaster and Live Nation Welcome Competition Commission Ruling on Merger" (Press release). Ticketmaster Entertainment. December 22, 2009. Retrieved January 26, 2010.
  3. ^ Chmielewski, Dawn C. and Fritz, Ben and Lewis, Randy (January 26, 2010). "Ticketmaster-Live Nation merger gets Justice Department's approval". The Los Angeles Times. Retrieved January 26, 2010.{{cite news}}: CS1 maint: multiple names: authors list (link)
  4. ^ Van Buskirk, Eliot (October 12, 2009). "Live Nation/Ticketmaster Merger Faces Obstacles Here and Abroad". Wired. Condé Nast. Retrieved 2009-10-19.
  5. ^ "Live Nation and Ticketmaster Entertainment Merger Receives U.S. Department of Justice Clearance" (Press release). Ticketmaster Entertainment. Retrieved January 26, 2010. {{cite press release}}: Text "January 25, 2010" ignored (help)
  6. ^ Nakashima, Ryan (January 25, 2010). "Live Nation, Ticketmaster merge after approval". Associated Press via The Washington Post. Retrieved January 26, 2010. [dead link‍]
  7. ^ "Live Nation and Ticketmaster Entertainment Merger Receives U.S. Department of Justice Clearance" (Press release). Live Nation and Ticketmaster Entertainment via CNN. January 25, 2010. Retrieved January 26, 2010.
  8. ^ Van Buskirk, Eliot (January 25, 2010). "DOJ Approves Modified Ticketmaster, Live Nation Merger". Wired News. Condé Nast. Retrieved January 26, 2010.
  9. ^ British Regulator Backs Merger of Ticketmaster and Live Nation
  10. ^ Branch Jr., Alfred (January 19, 2010). "Ticketmaster / Live Nation merger: 25,000 contact DOJ to oppose the deal". TicketNews. Retrieved January 26, 2010.
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