Summary Box: Live Nation 1st-quarter loss grows on merger costs
By APMonday, May 10, 2010
Summary Box: Live Nation 1Q loss grows post-merger
LOSSES GROW: Recently merged live event company Live Nation Entertainment Inc. posted a first-quarter loss of $112 million, up from a loss of $103 million a year earlier. Merger costs and lower concert attendance were blamed.
TICKETSNOW ON SALE?: CEO Michael Rapino is looking at “strategic options” for TicketsNow, the ticket resale site that faced regulatory trouble over Bruce Springsteen tickets last year.
OUTLOOK MIXED: Live Nation expects to sell 40 million tickets to events it promotes in 2010, compared to 39.6 million last year. No outlook was given for Ticketmaster, which sells a wider range of events, and sold 23 million from late January through March.
YOUR VIEW POINT
