By Jem Aswad
Live Nation CEO Michael Rapino Gives up Salary, Top Execs Take Pay Cuts as Company Tightens Belt
13.04.2020 - 17:41 / variety.com
By Jem Aswad
Senior Music Editor
In the wake of the steep challenges the live-entertainment industry faces due to the coronavirus pandemic, Live Nation CEO Michael Rapino will forego his 2020 salary and senior executives will see their salaries reduced by up to 50%, amid other cost-cutting moves and an amendment to its existing credit agreement that includes a new $120 million revolving loan facility.
“Given the uncertainty associated with the duration of current conditions globally, the
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billboard.com
29.04.2020 / 03:19
Michael Rapino Details Live Nation Refund Plan in Staff Memo
Live Nation chief executive Michael Rapino emailed his staff Tuesday detailing plans for issuing refunds to ticket buyers, including news the company was expanding its refund offer to fans who bought tickets for events that have not yet been rescheduled.
billboard.com
28.04.2020 / 21:09
AEG, Live Nation, Broadway, More Sign Letter Requesting Federal Aid For Concerts and Events
A coalition of the top concert promoters, venue managers and show producers have joined forces to request federal aid for the live entertainment industry as it faces an existential crisis from the COVID-19 pandemic.Billboard obtained a copy of the memo, which calls on Congress to expand the Paycheck Protection Act to entertainment companies with 500 or fewer employees, as well as an expansion of loans to mid-sized businesses under the CARES Act and the Federal Reserve’s Main Street Lending
billboard.com
28.04.2020 / 04:07
What Does Live Nation Stock Purchase Say About Saudis' Approach to Entertainment?
Saudi Arabian Public Investment Fund (PIF)'s $500 million purchase of a 5.7% stake in Live Nation on the open market Monday (April 27) could indicate a more passive play for the entertainment business since the country has been largely shunned over the murder of journalist Jamal Khashoggi at the Saudi consulate in Istanbul last October.The gruesome murder was allegedly ordered by Saudi prince Mohammed bin Salman, according to reports by U.S.
billboard.com
27.04.2020 / 18:29
Saudi Arabia Purchases $500 Million Stake in Live Nation
The government of Saudi Arabia's sovereign wealth fund has acquired a 5.7 percent stake in Live Nation, the parent company of Ticketmaster.The Saudi Public Investment Fund disclosed the stake, comprising 12,337,569, shares in a filing with the Securities and Exchange Commission on Monday morning.Based on Live Nation’s share prices as of this writing, the investment is valued at just shy of $500 million.
variety.com
27.04.2020 / 16:57
Music Biz Hosts Webinar on Live Music Industry in the Age of Coronavirus
By Jem Aswad
variety.com
25.04.2020 / 00:47
Live Nation Launches Ticket-Refund Site for Cancelled and Postponed Concerts
By Jem Aswad
deadline.com
19.04.2020 / 00:07
This Week In Music: Taylor Swift Cancels, AB5 Amends, Live Nation Cuts
By Bruce Haring
variety.com
18.04.2020 / 00:59
Live Nation Announces Details of Concert-Ticket Refund Program
By Jem Aswad
variety.com
17.04.2020 / 23:29
Apple Music Chief Oliver Schusser to Take Top Post at Beats Headphones
By Jem Aswad
variety.com
17.04.2020 / 16:35
How Erykah Badu Created Her Own Livestream Company for ‘Quarantine Concert Series’
By Jem Aswad
variety.com
16.04.2020 / 19:15
Roc Nation Hit With Furloughs, Pay Cuts
Roc Nation, the multifaceted management-label-publishing company established as a partnership between Jay-Z and Live Nation, was hit with multiple furloughs and pay cuts last month that extend across as much as half the company, multiple sources confirm to Variety.
hollywoodreporter.com
13.04.2020 / 19:41
Live Nation CEO to Forgo $3 Million Base Salary, Execs Take Pay Cuts
A month after suspending all tours amid the novel coronavirus pandemic, Live Nation's CEO will be forgoing his annual base salary and other executives will be taking pay cuts, the events promoter disclosed. Additionally, the company has amended its credit agreement to get access to up to an additional $120 million to $150 million as the concert industry has shuttered across the globe.
billboard.com
13.04.2020 / 19:19
Live Nation CEO to Forego Salary as Company Taps Cost-Cutting Measures
With the live events industry facing an uncertain future, Live Nation president/CEO Michael Rapino will forego his salary, part of a variety of cost-cutting measures the events promoter is implementing to save $500 million by the end of 2020. Live Nation will cut salaries for senior executives by up to 50%. Rapino's pay will go from $3 million to zero, president