Jump to content

Live Nation Entertainment: Difference between revisions

From Wikipedia, the free encyclopedia
Browse history interactively
← Previous editNext edit →
Content deleted Content added
VisualWikitext
RealRunner (talk | contribs)
404 edits
Updated Logo to Vector Image
Rescuing 1 sources and tagging 1 as dead. #IABot (v1.6.1)
Line 29: Line 29:
The merger initially received regulatory approval in Norway and Turkey in 2009.<ref name="competitioncomission">{{cite press release|title=Ticketmaster and Live Nation Welcome Competition Commission Ruling on Merger|date=December 22, 2009|publisher=Ticketmaster Entertainment|url=http://investors.livenationentertainment.com/files/doc_news/2009/Live%20Nation%20Ticketmaster.pdf}}</ref> In October 2009, the United Kingdom's [[Competition Commission]] provisionally ruled against the merger.<ref>{{cite news|url=https://www.wired.com/epicenter/2009/10/live-nationticketmaster-merger-faces-obstacles-here-and-abroad/|title=Live Nation/Ticketmaster Merger Faces Obstacles Here and Abroad|author=Van Buskirk, Eliot|date=October 12, 2009|work=Wired|accessdate=2009-10-19}}</ref> On December 22, 2009, the Competition Commission reversed its decision and cleared the proposed merger.<ref name="competitioncomission" /> The [[United States Justice Department]] approved the merger on January 25, 2010, with some conditions to which both parties agreed.<ref name="Chmielewski">{{cite news|url=http://www.latimes.com/business/la-fi-ct-ticketmaster26-2010jan26,0,5237319,full.story|title=Ticketmaster-Live Nation merger gets Justice Department's approval|author=Chmielewski, Dawn C. and Fritz, Ben and Lewis, Randy|date=January 26, 2010|accessdate=January 26, 2010|publisher=The Los Angeles Times}}</ref>
The merger initially received regulatory approval in Norway and Turkey in 2009.<ref name="competitioncomission">{{cite press release|title=Ticketmaster and Live Nation Welcome Competition Commission Ruling on Merger|date=December 22, 2009|publisher=Ticketmaster Entertainment|url=http://investors.livenationentertainment.com/files/doc_news/2009/Live%20Nation%20Ticketmaster.pdf}}</ref> In October 2009, the United Kingdom's [[Competition Commission]] provisionally ruled against the merger.<ref>{{cite news|url=https://www.wired.com/epicenter/2009/10/live-nationticketmaster-merger-faces-obstacles-here-and-abroad/|title=Live Nation/Ticketmaster Merger Faces Obstacles Here and Abroad|author=Van Buskirk, Eliot|date=October 12, 2009|work=Wired|accessdate=2009-10-19}}</ref> On December 22, 2009, the Competition Commission reversed its decision and cleared the proposed merger.<ref name="competitioncomission" /> The [[United States Justice Department]] approved the merger on January 25, 2010, with some conditions to which both parties agreed.<ref name="Chmielewski">{{cite news|url=http://www.latimes.com/business/la-fi-ct-ticketmaster26-2010jan26,0,5237319,full.story|title=Ticketmaster-Live Nation merger gets Justice Department's approval|author=Chmielewski, Dawn C. and Fritz, Ben and Lewis, Randy|date=January 26, 2010|accessdate=January 26, 2010|publisher=The Los Angeles Times}}</ref>


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".<ref>{{cite news|url=https://www.washingtonpost.com/wp-dyn/content/article/2010/01/25/AR2010012503555.html|title=Live Nation, Ticketmaster merge after approval|author=Nakashima, Ryan|date=January 25, 2010|work=The Washington Post|accessdate=January 26, 2010|agency=Associated Press}} {{Dead link|date=October 2010|bot=H3llBot}}</ref><ref>{{cite press release|title=Live Nation and Ticketmaster Entertainment Merger Receives U.S. Department of Justice Clearance|date=January 25, 2010|publisher=Live Nation and Ticketmaster Entertainment via CNN|url=http://money.cnn.com/news/newsfeeds/articles/prnewswire/NY43093.htm|accessdate=January 26, 2010}}</ref>
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".<ref>{{cite news|url=https://www.washingtonpost.com/wp-dyn/content/article/2010/01/25/AR2010012503555.html|title=Live Nation, Ticketmaster merge after approval|author=Nakashima, Ryan|date=January 25, 2010|work=The Washington Post|accessdate=January 26, 2010|agency=Associated Press}} {{Dead link|date=October 2010|bot=H3llBot}}</ref><ref>{{cite press release|title=Live Nation and Ticketmaster Entertainment Merger Receives U.S. Department of Justice Clearance|date=January 25, 2010|publisher=Live Nation and Ticketmaster Entertainment via CNN|url=http://money.cnn.com/news/newsfeeds/articles/prnewswire/NY43093.htm|accessdate=January 26, 2010}}{{dead link|date=January 2018 |bot=InternetArchiveBot |fix-attempted=yes }}</ref>


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.<ref>{{cite news|url=https://www.wired.com/epicenter/2010/01/doj-approves-modified-ticketmaster-live-nation-merger/|title=DOJ Approves Modified Ticketmaster, Live Nation Merger|author=Van Buskirk, Eliot|date=January 25, 2010|work=Wired News|accessdate=January 26, 2010}}</ref>
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.<ref>{{cite news|url=https://www.wired.com/epicenter/2010/01/doj-approves-modified-ticketmaster-live-nation-merger/|title=DOJ Approves Modified Ticketmaster, Live Nation Merger|author=Van Buskirk, Eliot|date=January 25, 2010|work=Wired News|accessdate=January 26, 2010}}</ref>


==== Opposition ====
==== 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 Corporation|Oracle]], [[Microsoft]], [[Yahoo]], [[Intuit]], and [[eBay]].<ref>[https://www.nytimes.com/2009/12/23/business/global/23ticketmaster.html British Regulator Backs Merger of Ticketmaster and Live Nation]</ref><ref>{{cite news|url=http://www.ticketnews.com/Ticketmaster-Live-Nation-merger-twenty-five-thousand-contact-DOJ-to-oppose-the-deal11019818|title=Ticketmaster / Live Nation merger: 25,000 contact DOJ to oppose the deal|author=Branch Jr., Alfred|date=January 19, 2010|accessdate=January 26, 2010|publisher=TicketNews}}</ref>
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 Corporation|Oracle]], [[Microsoft]], [[Yahoo]], [[Intuit]], and [[eBay]].<ref>[https://www.nytimes.com/2009/12/23/business/global/23ticketmaster.html British Regulator Backs Merger of Ticketmaster and Live Nation]</ref><ref>{{cite news|url=http://www.ticketnews.com/Ticketmaster-Live-Nation-merger-twenty-five-thousand-contact-DOJ-to-oppose-the-deal11019818|title=Ticketmaster / Live Nation merger: 25,000 contact DOJ to oppose the deal|author=Branch Jr., Alfred|date=January 19, 2010|accessdate=January 26, 2010|publisher=TicketNews|deadurl=yes|archiveurl=https://web.archive.org/web/20100122153341/http://www.ticketnews.com/Ticketmaster-Live-Nation-merger-twenty-five-thousand-contact-DOJ-to-oppose-the-deal11019818|archivedate=January 22, 2010|df=}}</ref>


== Company ==
== Company ==

Revision as of 04:36, 4 January 2018

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 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. ^ https://www.google.com/finance?q=NYSE%3ALYV&fstype=ii&ei=YqD7WMmXGoGZUb7ctaAN
  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.{{cite news}}: CS1 maint: multiple names: authors list (link)
  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. ^ British Regulator Backs Merger of Ticketmaster and Live Nation
  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. {{cite news}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  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

Stub icon

This United States corporation or company article is a stub. You can help Wikipedia by expanding it.

Retrieved from "https://en.wikipedia.org/w/index.php?title=Live_Nation_Entertainment&oldid=818543799"