Friday 12 September 2014

Live Nation raise $500 million to pay off debt and fund growth

Live Nation Entertainment (LNE) has raised another $500 million from private lenders in order to pay off more expenses borrowing and leaving the company with a war chest for further possible acquisitions. Around $220m will be used to redeem debt that is incurring higher interest, leaving LNE, after related costs, with in excess of $260m for potential investments and takeovers. Live Nation's Ticketmaster has announced it is acquiring Eventjoy, a provider of mobile ticketing and marketing tools to event organisers.

And in the USA, SFX Entertainment reported second quarter financial results for the three months ending 30 June with revenue at $82 million compared with $27.4 million in 2013 for the same period last year. However, net loss was $43.7m up from $24.9m in the preceding year's quarter, while long term debt almost tripled to $220.5m from $74.7m the preceding year.

http://www.audience.uk.com/world_news.php

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