Live Nation Entertainment

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Live Nation Entertainment, Inc.
Public company
Traded as NYSELYV
S&P 400 Component
Industry Entertainment
Founded 2010
Headquarters Beverly Hills, California, U.S.
Area served
Worldwide
Key people
Services
Revenue Increase US$10.337 billion (2017)[1]
Decrease US$91 million (2017)[1]
Decrease US$-6 million (2017)[1]
Total assets Increase US$7.504 billion (2017)[1]
Total equity Decrease US$1.181 billion (2017)[1]
Owner Liberty Media (34.2%)[2]
Number of employees
~8,800 (December 2017)[1]
Subsidiaries Roc Nation
Ticketmaster
Live Nation Concerts
Front Line Management Group
Live Nation Network
C3 Presents
AC Entertainment
Website livenationentertainment.com

Live Nation Entertainment is an American global entertainment company, formed from the merger of Live Nation and Ticketmaster in 2010.

It owns, leases, operates, has booking rights for and/or equity interests in a large number of U.S. entertainment venues.

History

Merger

The merger initially received regulatory approval in Norway and Turkey in 2009.[3] In October 2009, the United Kingdom's Competition Commission provisionally ruled against the merger.[4] On December 22, 2009, the Competition Commission reversed its decision and cleared the proposed merger.[3] The United States Justice Department approved the merger on January 25, 2010, with some conditions to which both parties agreed.[5]

As part of the agreement with governments to merge, Ticketmaster had to sell its ownership in its self-ticketing company, Paciolan, and Live Nation Entertainment was placed 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]

In addition, the new company had 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 could compete "head-to-head" with Ticketmaster for venues’ business. AEG was given the option after five years to buy the software, replacing it with something else, or partnering with another ticketing company.[8]

Opposition

The merger that formed the company was opposed by members of the United States Congress, business rivals, and the Computer & Communications Industry Association (CCIA), whose members include Google, Oracle, Microsoft, Yahoo, Intuit, and eBay.[9][10]

Company

Leadership

The leadership team at Live Nation Entertainment consists of the following people as of 2017:

Acquisitions and investments

In December 2014, Live Nation Entertainment acquired Austin-based live entertainment and artist management company C3 Presents.[13]

In October 2016, Live Nation Entertainment bought AC Entertainment, a Knoxville Tennessee music company.[14]

In February 2017, Live Nation Entertainment acquired a majority interest in Israeli promoter Blue Stone Entertainment.[15]

References

  1. ^ a b c d e f "Live Nation Entertainment, Inc. 2017 Annual Report (Form 10-K)". sec.gov. U.S. Securities and Exchange Commission. February 2018. 
  2. ^ "Live Nation Entertainment, Inc". Retrieved 2016-10-18. 
  3. ^ a b "Ticketmaster and Live Nation Welcome Competition Commission Ruling on Merger" (PDF) (Press release). Ticketmaster Entertainment. December 22, 2009. 
  4. ^ Van Buskirk, Eliot (October 12, 2009). "Live Nation/Ticketmaster Merger Faces Obstacles Here and Abroad". Wired. Retrieved 2009-10-19. 
  5. ^ 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. 
  6. ^ Nakashima, Ryan (January 25, 2010). "Live Nation, Ticketmaster merge after approval". The Washington Post. Associated Press. 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. [permanent dead link]
  8. ^ Van Buskirk, Eliot (January 25, 2010). "DOJ Approves Modified Ticketmaster, Live Nation Merger". Wired News. Retrieved January 26, 2010. 
  9. ^ Nicholson, Chris V. (22 December 2009). "British Regulator Supports Live Nation-Ticketmaster Merger" – via NYTimes.com. 
  10. ^ Branch Jr., Alfred (January 19, 2010). "Ticketmaster / Live Nation merger: 25,000 contact DOJ to oppose the deal". TicketNews. Archived from the original on January 22, 2010. Retrieved January 26, 2010. 
  11. ^ Smith, Ethan (2013-03-14). "Maffei Named Chairman of Live Nation". Wall Street Journal. ISSN 0099-9660. Retrieved 2017-12-12. 
  12. ^ "Stocks". Bloomberg.com. Retrieved 2017-12-12. 
  13. ^ "Live Nation Completes Deal for C3 Presents". Billboard. Retrieved 2017-10-28. 
  14. ^ "Live Nation buys AC Entertainment". The Tennessean. Retrieved 2016-11-16. 
  15. ^ "Live Nation acquires majority stake in Israel's Bluestone Entertainment - Music Business Worldwide". Music Business Worldwide. 2017-02-07. Retrieved 2017-12-12. 

External links

  • Official website


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