Ron Burkle's Yucaipa Buys Music Booking Power Artist Group International

The billionaire investment banker shows a growing interest in the music biz: He just picked up one of the industry’s top concert-booking firms with clients including Billy Joel, Metallica, and Rod Stewart. “The live experience cannot be digitized or replicated and thrives in the face of the profound changes that have affected other facets of the music business,” says Rick Stevens, who runs Burkle’s Y Entertainment Group. No details on how much Burkle paid for Artist Group International — which will continue to be run by Dennis Arfa, who founded the company 25 years ago. But it’s always worth following the banker’s moves: He’s a member of the Yahoo board and a major investor in Alliance Entertainment and Barnes & Noble. Here’s the release: (more…)

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