Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, May 21, 2021

Article Excerpt

LIVE NATION ENTERTAINMENT INC., $89.26, symbol LYV on New York, is the world’s leading live entertainment company. Its brands include Ticketmaster, Live Nation Concerts, and Live Nation Media & Sponsorship. Live Nation’s shares moved up recently after CEO Michael Rupino indicated that live events are selling out much faster than forecast. It’s an indication that ticket buyers have pent-up demand for live concerts. All in all, the rollout of COVID-19 vaccines has led to increased ticket-buying for future concerts in the company’s largest markets. For instance, this summer in the U.K., Live Nation has 11 music festivals planned, including its three largest, in Reading, Leeds, and Parklife. All three have sold out. Meanwhile, in the U.S., the Bonnaroo, Electric Daisy and Rolling Loud festivals all sold out in record time at full capacity. And in New Zealand, that country’s largest festival, Rhythm and Vines, also quickly sold out. Complementing its event pipeline, Ticketmaster continues to build its global client base to further accelerate its growth…