Latest in Live Nation

Let's get this over with. Live Nation, which makes a living on live events, saw revenue plunge 98% last quarter to $74 million and swung to a loss of $588 million from a profit of $176 million the year before. It was the first full COVID-19 quarter and the company was expected to bleed red ink. CEO Michael Rapino can…

Showbiz shares surged in a major market rally that saw the DJIA close up by nearly 1,000 points Monday. ViacomCBS ended the session 11% higher as a Wall Street analyst upgraded the stock to 'buy' and the company's chairman Shari Redstone and CEO Bob Bakish told annual meeting attendees that they consider the stock…

UPDATE, PART II: The plans to stage the first social distancing live music event since the pandemic shutdown were scuttled late on Thursday, as Arkansas officials seized the liquor license of a concert hall where artist Travis McCready would have performed. The show was set to happen on Friday. Promoters described…

Saudi Arabia has taken a 5.7% stake in Live Nation Entertainment, the live event company that’s been hit hard by the coronavirus pandemic. According to an SEC filing Monday, the Public Investment Fund of the Kingdom of Saudi Arabia in Riyahd – the sovereign wealth fund of the kingdom of Saudi Arabia – purchased…

Ticketmaster said it is finalizing plans to refund for as many as 18,000 events that were postponed or canceled by the COVID-19 pandemic. Starting May 1, fans can request a refund for a 30-day period, according to TIcketmaster parent company Live Nation. The affected shows include L.A. area stadium dates by Taylor…

It's a brave new world for musicians, and even the biggest ones in the business have to figure out in a hurry how to navigate a path that's suddenly much narrower. This week, Taylor Swift announced that she was canceling live appearance for the rest of the year. That included two big opening night concerts for L.A's…

Live Nation CEO Michael Rapino will forgo most of his 2020 salary “in light of the evolving circumstances relating to the coronavirus,” the live events company said in an SEC filing Monday. The company's executive officers voluntarily agreed to cut their pay by up to 50%. The filing also said Live Nation in April…

Liberty Media Corp., a holding company with a diverse portfolio of  investments including currently Live Nation Entertainment, said Thursday it has fully repaid its margin loan for the live event company using a portion of cash on hand. “With the payment of $130 million, there are no margin or other price triggers…

UPDATED with closing numbers: The stock market had one of its best days Friday after one of its worst the day before, with the Dow Jones Industrial Average up by almost 2,000 points, or 9.36%. Investors have been killing stocks as the coronavirus pandemic threatens global growth and the health of U.S. companies with…

Live entertainment giants Live Nation and AEG have teamed up with Creative Artists Agency, William Morris Endeavor, Paradigm, and United Talent Agency to created a global task force they hope will ensure best practices in the face of the coronavirus pandemic. The group’s first recommendation Thursday is to cancel all…

Live Nation Entertainment has reached an agreement with the Justice Department to extend restrictions that were placed on its 2010 merger with Ticketmaster, including a provision that prohibits retaliation against concert venues for using another ticketing company. The agreement was reached after the Justice…

Fox Corp said Tuesday that Gary Ehrlich, who worked at Fox for three decades before exiting in 2017 to join Live Nation, is returning as President and General Manager for the Fox Studio Lot in Century City. Ehrlich will oversee studio operations on the full-service lot that offers stage, postproduction and support…