This isn’t a complete surprise following the announcement late last month that Madison Square Garden Executive Chairman Jim Dolan resigned from the Live Nation board. MSG had 3.9M Live Nation shares — about 2% of the total — and says this morning that it sold all of the stock for $44 million. That comes to about $11.28 a share, below yesterday’s closing price of $11.63. The sale follows the surprise year-end resignation of Irving Azoff, who was Live Nation’s executive chairman. He’s close to Dolan and manages the guitar-playing cable exec’s blues band, JD And The Straight Shot. MSG said it wouldn’t comment on the transaction. Live Nation shares are down 1.9% in early trading.
Madison Square Garden Sells Stake In Live Nation Entertainment
For all of Deadline’s headlines, follow us @Deadline on Twitter
Sign up for Newsletters
Trending Now on Deadline
UPDATE: 'Cops' Bryce Dion Killed By Friendly Fire In Omaha While Filming Response To Wendy's Robbery
About 1 Million Watch Chelsea Handler Say So Long To E! As Gwen Stefani Nearly Fumbles Another TV Appearance: Video
More From Lieberman
- Now That He's At Carmike, Can Bud Mayo Lead Theaters' Alternative Content Revolution?
- Cable Milestone: Operators Have More Broadband Subs Than TV Ones
- Look Out Gannett: Carl Icahn Buys 6.6% Stake
- Warren Buffett Sends A Mixed Message To John Malone As He Buys Into Charter But Unloads Starz
- Citing “Insulting” Criticism, Comcast And Time Warner Cable Withdraw Funding For Dinner Honoring FCC Commissioner
- Televisa Partners With MiTu To Develop Spanish-Language Digital Content