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Live Nation Entertainment

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Live Nation Entertainment

Live Nation Entertainment
Type Public company
Traded as NYSE: LYV
Industry Entertainment
Founded 2010
Headquarters Beverly Hills, California
Area served Worldwide
Key people
Products Ticketmaster
Live Nation Concerts
Front Line Management Group
Live Nation Network
Revenue Increase US$ 5.38 billion (2011)
Operating income Increase US$ 18.34 million (2011)
Net income Increase US$ -70.40 million (2011)
Total assets Decrease US$ 5.088 billion (2011)
Total equity Increase US$ 1.62 billion (2011)
Employees Full-time: 6,600
Part-time: 13,000
Website .comlivenationentertainment

Live Nation Entertainment 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 (previously chief executive officer of Live Nation) as president and CEO of the company.

The merger that gave rise to the company was not without opposition. The proposed merger initially received regulatory approval in Norway and Turkey.[1] The United States Justice Department approved the merger on January 25, 2010 with some conditions to which both parties agreed.[2] However, in October 2009, the United Kingdom's Competition Commission provisionally ruled against the merger.[3] On December 22, 2009, the Competition Commission reversed its decision and decided to clear the proposed merger.[1]

Clearance and divestment of assets to merge

Separate regulatory reviews of the proposal were continuing in the United States and Canada.[1] On January 25, 2010, the United States and Canadian governments cleared the way for Live Nation and TicketMaster to merge.[4] 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. 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".[5][6]

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.[7]

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 and Communications Industry Association (CCIA), whose members include Google, Oracle Corporation, Microsoft, Yahoo, Intuit, and eBay, also opposed the merger.[8][9]

Venues

As of December 31, 2012, Live Nation "owned, leased, operated, had booking rights for and/or had an equity interest in":[10]

  1. PNC Bank Arts Center
  2. Nikon at Jones Beach Theater
  3. NYCB Theatre at Westbury
  4. Paramount Theatre (Long Island) (booking)
  5. Irving Plaza
  6. Gramercy Theatre
  7. Roseland Ballroom
  8. Foxwoods Theatre[11]
  9. Union County Performing Arts Center (booking)
  10. San Manuel Amphitheater
  11. Verizon Wireless Amphitheatre (Irvine)
  12. Gibson Amphitheatre
  13. Hollywood Palladium
  14. Wiltern Theatre
  15. First Midwest Bank Amphitheatre
  16. FirstMerit Bank Pavilion
  17. Bottom Lounge (booking)
  18. Susquehanna Bank Center
  19. Tower Theater
  20. The TLA
  21. Festival Pier
  22. River Stage at Great Plaza
  23. Boyd Theatre
  24. Gexa Energy Pavilion
  25. Morton H. Meyerson Symphony Center (booking)
  26. Palladium Ballroom (booking)
  27. Shoreline Amphitheatre
  28. Concord Pavilion
  29. The Fillmore
  30. Nob Hill Masonic Auditorium
  31. Cobb's Comedy Club
  32. Comcast Center
  33. Bank of America Pavilion
  34. Orpheum Theatre
  35. Paradise Rock Club
  36. Brighton Music Hall
  37. Jiffy Lube Live
  38. Warner Theatre
  39. The Fillmore Silver Spring
  40. Aaron's Amphitheatre at Lakewood
  41. Chastain Park Amphitheatre
  42. The Tabernacle
  43. Cynthia Woods Mitchell Pavilion (booking only)
  44. Bayou Music Center
  45. The Fillmore Detroit
  46. Saint Andrew's Hall
  47. White River Amphitheatre
  48. Ak-Chin Pavilion
  49. Comerica Theatre
  50. MidFlorida Credit Union Amphitheatre
  51. Klipsch Amphitheatre at Bayfront Park
  52. The Fillmore Miami Beach at Jackie Gleason Theater
  53. Revolution Live (booking only)
  54. Comfort Dental Amphitheatre
  55. Fillmore Auditorium
  56. Blossom Music Center
  57. Jacobs Pavilion at Nautica (booking only)
  58. Sleep Train Amphitheatre (Chula Vista)
  59. Verizon Wireless Amphitheater (St. Louis)
  60. The Pageant (50%)
  61. First Niagara Pavilion
  62. Walnut Creek Amphitheatre
  63. Red Hat Amphitheater (booking only)
  64. Verizon Wireless Amphitheatre (Charlotte)
  65. Time Warner Cable Uptown Amphitheater
  66. The Fillmore Charlotte
  67. Klipsch Music Center
  68. Farm Bureau Insurance Lawn at White River State Park (booking only)
  69. Murat Theatre at Old National Centre
  70. Sleep Train Amphitheatre (Wheatland)
  71. Cal Coast Credit Union Open Air Theatre at SDSU (booking only)
  72. Viejas Arena (booking only)
  73. The Comcast Theatre
  74. Rentschler Field (booking only)
  75. Mohegan Sun Arena (booking only)
  76. Toyota Presents Oakdale Theatre
  77. Starlight Theatre (booking only)
  78. Alpine Valley Music Theatre
  79. Riverbend Music Center (booking only)
  80. PNC Pavilion
  81. Bogart's
  82. Cruzan Amphitheatre
  83. Oak Mountain Amphitheatre
  84. Hersheypark Stadium (booking only)
  85. Sands Bethlehem Event Center (booking only)
  86. Farm Bureau Live at Virginia Beach
  87. Austin360 Amphitheater
  88. Isleta Amphitheater
  89. Sandia Casino Amphitheater (booking only)
  90. The Louisville Palace
  91. Darien Lake Performing Arts Center
  92. Toyota Pavilion at Montage Mountain
  93. Saratoga Performing Arts Center
  94. The Gorge Amphitheatre
  95. Jamboree in the Hills Festival Site
  96. Molson Canadian Amphitheatre
  97. Rogers Arena (booking only)
  98. Commodore Ballroom
  99. Leeds Festival Site
  100. Wembley Arena[12]
  101. Olympic Stadium[13]
  102. O2 Apollo Manchester
  103. Little John’s Farm
  104. Motorpoint Arena Sheffield
  105. Southampton Guildhall
  106. Heineken Music Hall
  107. Ziggo Dome
  108. Balado
  109. Motorpoint Arena Cardiff
  110. 3Arena
  111. Bord Gáis Energy Theatre
  112. Torino Palasport Olimpico
  113. Torino Palavela
  114. The House of Blues:
  115. New Orleans
  116. Las Vegas
  117. San Diego
  118. Los Angeles
  119. Houston
  120. Dallas
  121. Cleveland
  122. Boston
  123. Orlando
  124. Anaheim
  125. Chicago
  126. Myrtle Beach
  127. Punch Line Comedy Club
  128. Sacramento
  129. San Francisco
  130. Milano Mediolanum Forum (predominatly booking)

References

  1. ^ a b c "Ticketmaster and Live Nation Welcome Competition Commission Ruling on Merger" (Press release). Ticketmaster Entertainment. December 22, 2009. Retrieved January 26, 2010. 
  2. ^ 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. 
  3. ^ Van Buskirk, Eliot (October 12, 2009). "Live Nation/Ticketmaster Merger Faces Obstacles Here and Abroad". Wired (Condé Nast). Retrieved 2009-10-19. 
  4. ^ "Live Nation and Ticketmaster Entertainment Merger Receives U.S. Department of Justice Clearance" (Press release). Ticketmaster Entertainment. January 25, 2010. Retrieved January 26, 2010. 
  5. ^ Nakashima, Ryan (January 25, 2010). "Live Nation, Ticketmaster merge after approval". Associated Press via The Washington Post. Retrieved January 26, 2010. 
  6. ^ "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. 
  7. ^ Van Buskirk, Eliot (January 25, 2010). "DOJ Approves Modified Ticketmaster, Live Nation Merger". Wired News (Condé Nast). Retrieved January 26, 2010. 
  8. ^ British Regulator Backs Merger of Ticketmaster and Live Nation
  9. ^ Branch Jr., Alfred (January 19, 2010). "Ticketmaster / Live Nation merger: 25,000 contact DOJ to oppose the deal". TicketNews. Retrieved January 26, 2010. 
  10. ^ Live Nation Entertainment 2012 Annual Report
  11. ^ Kennedy, Mark (May 20, 2013). "Lease to Broadway's biggest theater sold". Yahoo! News. The Associated Press. Retrieved May 20, 2013. 
  12. ^ Live Nation ends Wembley Arena venue management contract
  13. ^ Live Nation to Stage Concerts in London’s Queen Elizabeth Olympic Park and Stadium

External links

  • Corporate Website
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