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overview
landmarks
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overview
This profile considers US live entertainment group Live
Nation, spun off from the Clear Channel broadcast and
outdoor advertising giant in 2005.
It covers -
introduction
Live Nation was the largest US live entertainment group
(ie concert promoter and operator of venues such as music
clubs and entertainment stadia) as of April 2006.
It was spun off from the broadcasting and outdoor advertising
giant Clear Channel in December
2005, amid criticisms that Clear was too big and that
returns on its live entertainment arm were too low. The
move involved distribution of Live Nation shares to Clear
shareholders.
At that time Clear boasted
the
world's largest broadcasting portfolio, including the
Company's 1,189 owned and operated domestic radio stations,
equity interests in various international broadcasting
companies, a leading national radio network and 40 owned
or programmed TV stations.
the group
Overall Live Nation encompasses over 153 concert venues,
featuring some 29,000 events in 2005. Revenue for that
year was US$2.9 billion (up 4.7% on 2004), with a loss
of US$13.2 million compared to a US$59.0 million profit
in 2004.
In addition to ownership and/or operation of those venues
the group includes concert management/promotion services
and talent agency services.
In 2007 Live Nation sold its share in Broadway in Chicago,
its Chicago theatres joint venture, to partner the Nederlander
Organization for US$60 million.
During the following January it announced sale for US$90.4
million of most of its North American theatre business
(including the 40 theatre Broadway Across America touring
network and eight theatres leased or managed in Minneapolis,
Boston, Baltimore and Toronto) to Key Brand Entertainment,
owned by British producer John Goreand run by an American
entertainment executive.
SFX, CKX and HOB
SFX Entertainment was acquired by Clear in 2000 for US$4.4
billion.
It had been founded in 1997 by Robert F X Sillerman, executive
chair of SFX Broadcasting (acquired that year by Capstar
for US$2.1 billion and thus absorbed by Clear in 1999
as part of the AMFM Inc takeover).
In 2004 Clear announced plans to wholly spin off SFX,
with the temporary name of CCE Spinco. As of 2004 it comprised
entertainment operations throughout North America, Europe,
South America, Asia and Australia, with annual 2004 sales
of US$2.75 billion.
Sillerman concurrently announced establishment of CKX
Inc and a definitive agreement to acquire an 85% interest
in the Elvis Presley estate (including the Elvis personality
rights, operation of Graceland and revenue derived from
Presley's music, films and television specials).
In 2005 Clear acquired a controlling stake in Hamsard,
which controlled the Mean Fiddler Group. Mean Fiddler
was founded by Vince Power (1947- ) with the opening of
a small club in Harlesden, UK in 1982. Power subsequently
added a string of venues and events such as the Reading
Festival, becoming the largest contemporary music promoter
in Europe and floating the company on the UK Alternative
Investment Market in 2001. During 2002 Mean Fiddler took
operational control of the Glastonbury festival, with
a 40% stake in the company that owned the festival site.
In December 2005 SFX/Spinco was spun off as Live Nation.
At that time it owned or operated 117 venues: 75 in the
US and 42 in other nations. Those venues included 39 amphitheatres,
58 theatres, 14 clubs, four arenas and two festival sites.
It also held rights to book events at a further 33 venues.
In July 2006 Live Nation acquired HOB Entertainment (operator
of the House of Blues clubs) for US$350m. HOB was the
third largest US live entertainment promoter, behind Live
Nation and Anschutz's AEG.
Its acquisition added 18 concert sites of various sizes
to Live Nation's 150 amphitheatres, clubs and other sites.
HOB gained public attention in 1999 when it paid US$190
million to acquire a network of amphitheaters from Seagram.
holdings
At its peak Live Nation holdings and events included
-
-
SFX Entertainment - venue and artist management (including
ownership and/or exclusive rights for 135 live entertainment
venues, production of high profile 'events' such as
halftime features at the US Super Bowl, and representation
of performers and sportspeople)
- Mojo
Concerts - production of music concerts and festivals
in the US and elsewhere, including Ozzfest, Jagermeister
Music Tour, Pinkpop, and North Sea Jazz
-
Milano Concerti and Trident Agency (Italy)
-
Welldone Agency & Promotion (Finland)
- dkbMotor
(Denmark)
- EMA
Telstar (Sweden)
-
Gunnar Eide Concerts (Norway)
-
Clear Channel Entertainment do Brasil (Brazil) music
promotion and production company
-
50.1% stake in Hamsard Ltd - Mean Fiddler Music Group
(music festivals such as Glastonbury Festival and Leeds
Festival and venues such as London Astoria)
- stakes
in CPI companies
- US
touring productions of Broadway shows such as The
Lion King
- United
States Hot Rod Association (USHRA), promoter of 'tractor
pulls'
- production
of sports events such as Legg Mason Tennis Classic,
American Century Golf Championship and THQ World Supercross
GP
- management
and operation of music events at Wembley Arena and The
National Bowl in Milton Keynes
- management
of UK venues such as the Liverpool Empire, Bristol Hippodrome,
Sunderland Empire and Edinburgh Playhouse
The
group operates in
- USA
- Brazil
- Belgium
- Czech Republic
- Denmark
- Finland
- Germany
- Hungary
- Ireland
- Italy
- Netherlands
- Norway
- Poland
- Spain
- Sweden
- UK
- China
- Singapore
studies
There have been no major studies of Clear, Live Nation
or HOB.
 next
page (Live Nation landmarks)
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