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Live Nation Entertainment

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Live Nation Entertainment is an American global entertainment company, formed from the merger of Live Nation and Ticketmaster in 2010.[3] It owns, leases, operates, has booking rights for and/or equity interests in a large number of U.S. entertainment venues.

Live Nation Entertainment, Inc.
Public
Traded asNYSELYV
S&P 400 Component
IndustryEntertainment
FoundedJanuary 25, 2010; 9 years ago (2010-01-25)
Headquarters,
Area served
Worldwide
Key people
Services
RevenueIncrease US$10.337 billion (2017)[1]
Decrease US$91 million (2017)[1]
Decrease US$-6 million (2017)[1]
Total assetsIncrease US$7.504 billion (2017)[1]
Total equityDecrease US$1.181 billion (2017)[1]
OwnerLiberty Media (34.2%)[2]
Number of employees
~8,800 (December 2017)[1]
SubsidiariesRoc Nation
Ticketmaster
Live Nation Concerts
Front Line Management Group
Live Nation Network
C3 Presents
AC Entertainment

Live Nation Merchandise
Websitelivenationentertainment.com

Contents

HistoryEdit

In 2009, Live Nation and Ticketmaster, a concert promotion firm and ticketing company, reached an agreement to merge. The new company received regulatory approval and was named Live Nation Entertainment.[4][5] Michael Rapino, then-CEO of Live Nation, became the new company’s CEO, while Ticketmaster CEO Irving Azoff was named executive chairman.[6]

The merger was approved first in Norway and Turkey in 2009.[7] The United Kingdom's Competition Commission provisionally ruled against the merger, [8] but later reversed its decision on December 22, 2009.[7]

The merger was opposed in the U.S. by some regulators, artists, fans, and competing firms, who argued it would reduce competition in the industry and increase ticket costs.[9][10] Artist Bruce Springsteen was one vocal opponent of the merger at the time.[11]

On January 25, 2010, the United States Justice Department approved the merger pending certain conditions.[12] Ticketmaster had to sell ownership of its self-ticketing company, Paciolan,[12] and license its software to Anschutz Entertainment Group (AEG), which would allow it to compete "head-to-head" with Ticketmaster for business.[13][14] AEG was given the option after five years to buy the software, replace it with something else, or partner with another ticketing company.[13] Additionally, Live Nation Entertainment was placed under a 10-year court order prohibiting it from retaliating against venues that choose to accept competing ticket contracts.[14]

Allegations of antitrust violationsEdit

In 2018, the United States Department of Justice launched an investigation following complaints that Live Nation had engaged in anti-competitive practices following the merger. AEG has alleged that Live Nation had pressured them into using Ticketmaster as a vender. If AEG had refused, they would have lost out on business. The allegations of antitrust violations have resulted in a re-examination of the merger between Ticketmaster and Live Nation. Much of the initial criticisms of the merger has been re-affirmed.[15][16]

Operating divisionsEdit

Live Nation Entertainment’s business segments are concerts, ticketing, and sponsorship and advertising. [17] The company promotes and operates live music events and manages artists under its concerts division.[17] Live Nation Entertainment’s artist management arm, called Artist Nation, is included within its concerts division.[17][18]

Radiohead stage collapseEdit

In June 2013, following the collapse of a stage at a Radiohead concert in 2012 that killed a crew member, thirteen charges were filed against a Live Nation contractor, two Live Nation subsidiaries, and an unidentified engineer under Ontario health and safety laws.[19][20] Live Nation issued a statement denying any wrongdoing and vowing to "vigorously defend" itself.[21] In September 2017, after several delays, the case was dropped under the Jordan ruling, which sets strict timelines on trials.[19] A 2019 inquest returned a verdict of accidental death.[22]

CompanyEdit

Acquisitions and investmentsEdit

In June 2013, Live Nation Entertainment announced a joint venture with Insomniac Events, a promoter focused on electronic dance music.[23][24]

In October 2013, Live Nation completed its acquisition of Voodoo Music & Arts Experience, one of the leading music festivals in New Orleans.[25]

In 2014, Live Nation announced the launch of the Maverick group – a management company led by artist manager Guy Oseary.[26]

In December 2014, Live Nation Entertainment acquired Austin-based live entertainment and artist management company C3 Presents.[27]

In August 2015, Live Nation announced it would form Live Nation Germany, which would be created in partnership with German promoter Marek Lieberberg. Live Nation Germany also has oversight over Live Nation events in Austria and Switzerland.[28]

In March 2016, Live Nation expanded its presence in South Africa with the acquisition of Big Concerts International, the country's leading concert promoter.[29]

In April 2016, Live Nation completed a deal with Founders Entertainment to acquire a majority stake in the company, adding the Governors Ball Music Festival to Live Nation's festival portfolio.[30]

In October 2016, Live Nation Entertainment bought AC Entertainment, a Knoxville Tennessee music company.[31]

In January 2017, Live Nation Entertainment acquired a controlling interest in BottleRock Napa Valley Music Festival.[32]

In February 2017, Live Nation Entertainment acquired a majority interest in Israeli promoter Blue Stone Entertainment.[33]

In May 2018, Live Nation Entertainment acquired a majority stake in Brazil's Rock in Rio festival (including from previous stakeholder SFX Entertainment), with its founder Roberto Medina continuing to manage the festival's operations, and providing consulting to Live Nation.[34][34][35]

In October 2018, Live Nation Entertainment acquired a majority stake in Emporium Presents, one of the leading independent concert promoters throughout the United States with a growing presence in Canada. [36]

ReferencesEdit

  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. ^ Jr, Bill Pascrell. "Everyone's worst fears about the Live Nation-Ticketmaster merger have come true". latimes.com. Retrieved 2018-11-27.
  4. ^ Nicholson, Chris V. (22 December 2009). "British Regulator Supports Live Nation-Ticketmaster Merger" – via NYTimes.com.
  5. ^ "Live Nation, Ticketmaster merger official". The Hollywood Reporter. Retrieved 2019-07-16.
  6. ^ "Live Nation to buy Ticketmaster". Reuters. 2009-02-10. Retrieved 2019-07-16.
  7. ^ a b Kreps, Daniel; Kreps, Daniel (2009-12-22). "Live Nation-Ticketmaster Merger Approved in U.K." Rolling Stone. Retrieved 2019-07-16.
  8. ^ Van Buskirk, Eliot (October 12, 2009). "Live Nation/Ticketmaster Merger Faces Obstacles Here and Abroad". Wired. Retrieved 2009-10-19.
  9. ^ Kreps, Daniel; Kreps, Daniel (2009-02-04). "Bruce Springsteen "Furious" At Ticketmaster, Rails Against Live Nation Merger". Rolling Stone. Retrieved 2019-07-16.
  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. ^ "Bruce Springsteen "Furious" At Ticketmaster, Rails Against Live Nation Merger". Rolling Stone. February 4, 2009. Retrieved 2009-10-19.
  12. ^ a b 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.CS1 maint: Multiple names: authors list (link)
  13. ^ a b Van Buskirk, Eliot (January 25, 2010). "DOJ Approves Modified Ticketmaster, Live Nation Merger". Wired News. Retrieved January 26, 2010.
  14. ^ a b Sisario, Ben (2010-01-25). "Justice Dept. Clears Ticketmaster-Live Nation Merger". The New York Times. ISSN 0362-4331. Retrieved 2019-07-16.
  15. ^ Sisario, Ben; Bowley, Graham (1 April 2018). "Live Nation Rules Music Ticketing, Some Say With Threats". Retrieved 10 June 2019 – via NYTimes.com.
  16. ^ Chavez, Danette. "DOJ is investigating Live Nation for possible antitrust violations". News. Retrieved 10 June 2019.
  17. ^ a b c Staff, Motley Fool (2018-09-13). "Live Nation Vertically Integrates to Corner the Live Events Industry -". The Motley Fool. Retrieved 2019-07-16.
  18. ^ "Live Nation companies now manage over 500 artists worldwide". Music Business Worldwide. 2017-02-27. Retrieved 2019-07-16.
  19. ^ a b "'I feel so let down by Canada': Radiohead and drum tech's parents demand answers in his Toronto death". CBC News. Retrieved 2017-11-30.
  20. ^ "Live Nation, engineer charged in Radiohead stage collapse". CBC News. 7 June 2013. Retrieved 8 June 2013.
  21. ^ Marc, Hogan (3 October 2016). "Waiting on Justice for the Radiohead Stage Collapse That Killed Scott Johnson | Pitchfork". pitchfork.com. Retrieved 1 December 2017.
  22. ^ Nast, Condé (11 April 2012). "Radiohead Share Statement Following Stage Collapse Inquest". Pitchfork. Retrieved 14 April 2012.
  23. ^ "Electronic Daisy Chain". Spin. Retrieved 2018-08-11.
  24. ^ "Live Nation Teams With Insomniac Events in 'Creative Partnership'". Billboard. Retrieved 2018-08-11.
  25. ^ "Live Nation Acquires Voodoo Music & Arts Experience in New Orleans". Billboard. Retrieved 2018-10-15.
  26. ^ "Live Nation reshuffles management assets, launches the new Maverick". CMU. Retrieved 2018-10-15.
  27. ^ "Live Nation Completes Deal for C3 Presents". Billboard. Retrieved 2017-10-28.
  28. ^ "Live Nation Launches German Arm, Appoints Respected Promoter Marek Lieberberg to Lead". Billboard. Retrieved 2018-10-15.
  29. ^ "Live Nation acquires leading South Africa concert promoter". BizJournals. Retrieved 2018-10-15.
  30. ^ "Live Nation Adds Governors Ball to Its Music Festival Lineup". NYTimes. Retrieved 2018-10-15.
  31. ^ "Live Nation buys AC Entertainment". The Tennessean. Retrieved 2016-11-16.
  32. ^ "Live Nation acquires major stake in BottleRock festival". SF Chronicle. Retrieved 2018-08-11.
  33. ^ "Live Nation acquires majority stake in Israel's Bluestone Entertainment - Music Business Worldwide". Music Business Worldwide. 2017-02-07. Retrieved 2017-12-12.
  34. ^ a b "Live Nation Acquires Rock in Rio Festival". Billboard. Retrieved 2018-12-11.
  35. ^ "Live Nation Acquires Rock in Rio Festival". Variety. 2018-05-02. Retrieved 2018-12-11.
  36. ^ "Live Nation Acquires Emporium Presents". Billboard. Retrieved 2018-12-12.

External linksEdit