|Traded as||NYSE: LYV|
Live Nation Concerts
Front Line Management Group
Live Nation Network
|Revenue||US$ 5.38 billion (2011)|
|US$ 18.34 million (2011)|
|US$ -70.40 million (2011)|
|Total assets||US$ 5.088 billion (2011)|
|Total equity||US$ 1.62 billion (2011)|
Number of employees
Live Nation Entertainment is an American entertainment company, formed from the merger of Live Nation and Ticketmaster. It owns, leases, operates, has booking rights for and/or equity interests in a large number of U.S. entertainment venues. The leadership consists of Greg Maffei (chief executive officer 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. The United States Justice Department approved the merger on January 25, 2010, with some conditions to which both parties agreed. However, in October 2009, the United Kingdom's Competition Commission provisionally ruled against the merger. On December 22, 2009, the Competition Commission reversed its decision and cleared the proposed merger.
Separate regulatory reviews of the proposal were continuing in the United States and Canada. On January 25, 2010, the United States and Canadian governments cleared the way for Live Nation and TicketMaster to merge. 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".
In addition, 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.
A group including members of the United States Congress and business rivals of Ticketmaster and Live Nation had urged the U.S. Department of Justice to stop the merger.[when?] The Computer & Communications Industry Association (CCIA), whose members include Google, Oracle, Microsoft, Yahoo, Intuit, and eBay, also opposed the merger.
As of February 2, 2015, Live Nation "owned, leased, and had booking rights for and/or had an equity interest in":