Live Nation pulls out of $400m-plus majority acquisition of Latin America’s biggest promoter

“Live Nation anticipates that CIE will defend these arbitration proceedings and that both CIE and TV may pursue any legal remedies available to them.”
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Live Nation raises $1.2bn, which will provide ‘extra cushion to withstand any scenario well into 2021.’

‘This added liquidity will help bolster our already strong balance sheet.’
The post Live Nation raises $1.2bn, which will provide ‘extra cushion to withstand any scenario well into 2021.’ appeared first on Music Business Worldwide.
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Live Nation New Zealand concerts to include temperature screening, contact tracing, social distancing

‘Live Nation NZ is excited to be welcoming back live events in New Zealand.’
The post Live Nation New Zealand concerts to include temperature screening, contact tracing, social distancing appeared first on Music Business Worldwide.
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Live Nation set to raise another $1.2bn to boost liquidity during COVID concert shutdown

Michael Rapino noted on May 7 that his company had a free cash balance of $817m, combined with $963m in undrawn debt capacity
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‘It’s going to be a long road for everybody to start seeing recovery in the live music industry.’

Promoters, agents and festival leads discuss the impact of coronavirus on the live industry and what a return to health might look like
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Michael Rapino talks cost-cutting, fan-less concerts, and pressing pause on Live Nation’s big Mexico deal

The five things you need to know about the live giant’s Q1 earnings
The post Michael Rapino talks cost-cutting, fan-less concerts, and pressing pause on Live Nation’s big Mexico deal appeared first on Music Business Worldwide.
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Live Nation revenues fell 20% in Q1 2020 – but firm says over 90% of fans are keeping tickets over taking refunds

“Despite these challenging times, we continue to have full confidence in the long-term supply and demand dynamics of the live concerts industry, Live Nation’s leadership position and our business model’s ability to successfully deliver profitable growt… Continue Reading

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Live Nation just sold 5.7% of its company to a Saudi Arabian fund for around $500m. It may soon need the money.

What you need to know about ‘event-related deferred revenue’… and Live Nation doing the right thing
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Live Nation to slash costs by up to $500m this year as boss Michael Rapino sacrifices $3m annual salary

Michael Rapino: “[We] believe that Live Nation has the financial strength to weather this difficult time.”
The post Live Nation to slash costs by up to $500m this year as boss Michael Rapino sacrifices $3m annual salary appeared first on Music Business… Continue Reading

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