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Live Nation Entertainment

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Live Nation Entertainment, Inc.
Company typePublic company
NYSE: LYV
S&P 400 Component
IndustryEntertainment
Founded2010
HeadquartersBeverly Hills, California, U.S.
Area served
Worldwide
Key people
RevenueIncrease US$ 8.355 billion (2016) [1]
Increase US$ 180.89 million (2016)
Increase US$ 2.94 million (2016)
Total assetsIncrease US$ 6.764 billion (2016)
Total equityDecrease US$ 1.126 billion (2016)
OwnerLiberty Media (34.2%)[2]
Number of employees
Full-time: 6,600
Part-time: 13,000
SubsidiariesRoc Nation
Ticketmaster
Live Nation Concerts
Front Line Management Group
Live Nation Network
C3 Presents
AC Entertainment
Websitelivenationentertainment.com

Live Nation Entertainment (NYSE: LYV) is a publicly traded live entertainment company based in California. The company was incorporated in August of 2005, after Michael Rapino [3] then Chief Executive Officer and President of Global Music for Clear Channel Music Group — initiated a spin-off to transfer Clear Channel Communications’ assets to form Live Nation [4]. The separation was finalized in December of 2005 and soon thereafter, Live Nation became a publicly traded company on the New York Stock Exchange trading under the symbol LYV.

In January 2010 Live Nation merged with Ticketmaster, positioning Live Nation Entertainment as the world’s largest concert operator and ticketing agency.[5]

Live Nation Entertainment has three divisions: Concerts, Sponsorship, and Ticketing [6], operating using the flywheel business model[7]

History

Merger

The merger initially received regulatory approval in Norway and Turkey in 2009.[8] In October 2009, the United Kingdom's Competition Commission provisionally ruled against the merger.[9] On December 22, 2009, the Competition Commission reversed its decision and cleared the proposed merger.[8] The United States Justice Department approved the merger on January 25, 2010, with some conditions to which both parties agreed.[10]

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".[11][12]

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.[13]

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.[14][15]

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. [18]

In October 2016, Live Nation Entertainment bought AC Entertainment, a Knoxville Tennessee music company.[19]

In February 2017, Live Nation Entertainment acquired a majority interest in Israeli promoter Blue Stone Entertainment.[20]

References

  1. ^ https://www.google.com/finance?q=NYSE%3ALYV&fstype=ii&ei=YqD7WMmXGoGZUb7ctaAN
  2. ^ "Live Nation Entertainment, Inc". Retrieved 2016-10-18.
  3. ^ Michael Rapino: Executive Profile
  4. ^ Live Nation Annual Report
  5. ^ Live Nation, Ticketmaster merge; agree to U.S. terms
  6. ^ LYV Overview
  7. ^ Millennials Enjoy Concerts and Live Nation is Benefitting
  8. ^ a b "Ticketmaster and Live Nation Welcome Competition Commission Ruling on Merger" (PDF) (Press release). Ticketmaster Entertainment. December 22, 2009.
  9. ^ Van Buskirk, Eliot (October 12, 2009). "Live Nation/Ticketmaster Merger Faces Obstacles Here and Abroad". Wired. Retrieved 2009-10-19.
  10. ^ 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)
  11. ^ Nakashima, Ryan (January 25, 2010). "Live Nation, Ticketmaster merge after approval". The Washington Post. Associated Press. Retrieved January 26, 2010. [dead link]
  12. ^ "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]
  13. ^ Van Buskirk, Eliot (January 25, 2010). "DOJ Approves Modified Ticketmaster, Live Nation Merger". Wired News. Retrieved January 26, 2010.
  14. ^ British Regulator Backs Merger of Ticketmaster and Live Nation
  15. ^ 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. {{cite news}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  16. ^ Smith, Ethan (2013-03-14). "Maffei Named Chairman of Live Nation". Wall Street Journal. ISSN 0099-9660. Retrieved 2017-12-12.
  17. ^ "Stocks". Bloomberg.com. Retrieved 2017-12-12.
  18. ^ "Live Nation Completes Deal for C3 Presents". Billboard. Retrieved 2017-10-28.
  19. ^ "Live Nation buys AC Entertainment". The Tennessean. Retrieved 2016-11-16.
  20. ^ "Live Nation acquires majority stake in Israel's Bluestone Entertainment - Music Business Worldwide". Music Business Worldwide. 2017-02-07. Retrieved 2017-12-12.
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