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Live Nation Buys $116M Front Line Stake
Live Nation Entertainment has bought the remaining 25% stake in Front Line Management Group that it did not already own.
Live Nation Entertainmenthas bought the remaining 25% stake inFront Line Management Groupthat it did not already own. The company paid $116.2 million in cash and stock for the deal, after which Live Nation will consolidate the entity for U.S. federal income tax purposes.
The California-based live entertainment company acquired equity interests fromIrving AzoffandMadison Square Garden. Azoff has been named Chairman of the board, replacingJohn Malone, who has stepped down from the role.
Click here for the release fromPR Newswire.