LOS ANGELES, Jan. 27 /PRNewswire-FirstCall/ -- Live Nation Entertainment, Inc. ("Live Nation") (NYSE: LYV) notes the announcement by Liberty Media Corporation ("Liberty Media") of its intention to commence a partial tender offer to acquire up to 34,500,000 shares of Live Nation's outstanding common stock for $12.00 per share in cash. Live Nation's Board of Directors intends to evaluate Liberty Media's proposed offer in consultation with its financial and legal advisors, and the Board will advise Live Nation's stockholders of its position regarding the offer, as well as its reasons for that position, after the proposed offer has been commenced. In the interim, Live Nation requests that its stockholders defer taking action with respect to Liberty Media's proposed offer until they have been advised of Live Nation's position with respect to the offer.
About Live Nation Entertainment, Inc.
Live Nation's mission is to maximize the live concert experience. Our core business is producing, marketing and selling live concerts for artists via our global concert pipe. Live Nation is the largest producer of live concerts in the world, annually producing over 22,000 concerts for 1,500 artists in 57 countries. During 2008, the company sold over 50 million concert tickets and drove over 70 million unique visitors to LiveNation.com. Live Nation is transforming the concert business by expanding its concert platform into ticketing and building the industry's first artist-to-fan vertically integrated concert platform. Headquartered in Los Angeles, California, Live Nation is listed on the New York Stock Exchange, trading under the symbol LYV. Additional information about the company can be found at: www.livenation.com/investors.
About Ticketmaster Entertainment LLC
Ticketmaster Entertainment LLC ("Ticketmaster Entertainment") consists of Ticketmaster and Front Line Management Group. As the world's leading live entertainment ticketing and marketing company, Ticketmaster connects the world to live entertainment. Ticketmaster operates in 20 global markets, providing ticket sales, ticket resale services, marketing and distribution through: www.ticketmaster.com, one of the largest e-commerce sites on the Internet; approximately 6,700 retail outlets; and 19 worldwide call centers. Established in 1976, Ticketmaster serves more than 10,000 clients worldwide across multiple event categories, providing exclusive ticketing services for leading arenas, stadiums, professional sports franchises and leagues, college sports teams, performing arts venues, museums, and theaters. In 2007, the company sold more than 141 million tickets valued at over $8.3 billion on behalf of its clients. Ticketmaster Entertainment acquired a controlling interest in Front Line Management Group in October 2008. Front Line is the world's leading artist management company. Ticketmaster Entertainment is headquartered in West Hollywood, California.
Additional Information and Where to Find It
In connection with Liberty Media's proposed tender offer, Live Nation expects to prepare a solicitation/recommendation statement regarding the proposed offer, and Live Nation's stockholders are strongly advised to read such solicitation/recommendation statement, which will contain important information, when it becomes available. Copies of the solicitation/recommendation statement, which will, if necessary, be filed by the Company with the Securities and Exchange Commission (the "SEC"), will be available free of charge at the SEC's website at http://www.sec.gov. In addition, investors may obtain free copies of the documents filed with the SEC by contacting Live Nation's Investor Relations Department at (310) 867-7000 or by accessing Live Nation's investor relations website at http://www.livenation.com/investors.
Forward Looking Statements
Certain statements in this press may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Live Nation wishes to caution you that there are some known and unknown factors that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements, including but not limited to operational challenges in achieving strategic objectives and executing the company's plans, the risk that markets do not evolve as anticipated, the possibility that artists may unexpectedly cancel or reschedule all or part of scheduled tours, the potential impact of the general economic slowdown, competition in the industry and challenges associated with operating the company's ticketing and digital media operations.
Live Nation refers you to the documents that Live Nation files from time to time with the SEC, specifically the section entitled "Risk Factors" of its most recent Annual Report filed on Form 10-K, as amended and as updated by its Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, as well as the Form S-4 declared effective on November 6, 2009, each of which contain and identify other important factors that could cause actual results to differ materially from those contained in Live Nation's projections or forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All subsequent written and oral forward-looking statements by or concerning Live Nation are expressly qualified in their entirety by the cautionary statements above. Live Nation does not undertake any obligation to publicly update or revise any forward-looking statements because of new information, future events or otherwise.
SOURCE Live Nation