Irving Azoff Resigns From Live Nation
December 31, 2012

Irving Azoff
Live Nation Entertainment announced today that Irving Azoff, Chairman of Live Nation Entertainment and CEO of its Front Line Management Group, has resigned from the Board of Directors and as an employee of the company, effective immediately. In conjunction with this change, Liberty Media Corporation has purchased 1.7 million shares of Live Nation stock from Azoff, increasing its stake to 26.4 percent.

The Wall Street Journal reports that Azoff's next move will be to join the Board of Directors for cable network Starz, which is also owned by Liberty Media. Liberty is Live Nation's biggest shareholder, while its quest for control of SiriusXM has been a major story over the past year. Liberty is expected to spin off Starz early in 2013.

"After successfully overseeing the integration of Live Nation and Ticketmaster over the past two years, my job here is done. We put together the leading company across concert promotion, ticketing, sponsorship and artist management and delivered the great results promised by the merger," stated Azoff.  "I especially enjoyed my time with my partner Michael Rapino, and he has demonstrated the ability to lead this company from now on.  I'm looking forward to returning to the entrepreneurial world and continuing to work with all my friends and colleagues at Live Nation."

"Irving has been a valuable partner and friend for the past few years," said Rapino, President/CEO of Live Nation Entertainment. "We will certainly miss him and we thank him for his many contributions in building Live Nation to the global company it is today, entertaining 50 million fans and selling 200 million tickets in more than 40 countries around the world. I look forward to continuing to work with Irving on his artists' tours for years to come."

"I want to thank Irving for his leadership since the merger.  While he has played a key role in setting Live Nation on a path for success, we understand his entrepreneurial desires," said Greg Maffei, lead external director for Live Nation Entertainment's Board of Directors, and President/CEO of Liberty Media. "Live Nation is now well positioned and we have tremendous confidence in Michael Rapino and his leadership team."

In a statement, Live Nation said it does not expect the departure of Azoff and associated restructurings to have any material impact on its ongoing operating results.

Breaking News
FCC Fines Drawing Scrutiny In Congress
Bill Hess Named OM At Cumulus-Washington, D.C.
In Brief - November 23, 2015
November 20, 2015
Adams Radio Group Of Delmarva Names Jay Gleason Operations Manager
iHeartRadio Presents Adele¹s Album Premiere Live from Joe¹s Pub 
Radio Mercury Awards Announces Advisory Council
November 19, 2015
Westwood One: The State of American Podcasting
Nielsen: Connecting With Political Millennials Through Music
Jacobs Media Webinar: 10 Mega Trends That Impact Radio
November 18, 2015
Republic Records Promotes Ben Adelson To SVP/A&R
Y100’s TC Wins Dancing with the Savannah Stars
Greater Media's Magic 106.7 To Become Boston's Christmas Station
November 17, 2015
Alissa Pollack To Be Honored At T.J. Martell Foundation’s 16th Annual New York Family Day
Cash Money Records Announces Annual Turkey Giveaways in Miami & New Orleans
Amanda "AJ" Malone Joins iHeartMedia/Indianapolis
Jacobs Media Blogs Radio’s Days as a Primary Traffic Source May Be Numbered
November 16, 2015
Pandora to Acquire Key Assets from Rdio
Apple To Close Beats Music
Entercom Adds Ashley O. To Mornings On WSFS/Miami
In Brief - November 16, 2015
November 13, 2015
Pierre Bouvard: "Pandora’s CFO Is Wrong, Radio Listening Remains Remarkably Stable"
The Week In Review: 11/9-11/13
November 12, 2015
Music News
Adele's 25 Smashes Sales Record
Quick Hits: Charlie Puth, Coldplay, Jack Ü
Bieber, One Direction Lead Billboard 200 Shakeup
One Direction, The Weeknd Win Multiple AMAs
Rihanna Announces Anti World Tour, Teases New Album
Foo Fighters Release Free EP
Quick Hits: Coldplay, U2, The Cure, Wilco
Chris Martin Talks Influences On New Coldplay Record
Quick Hits: Foo Fighters, Justin Bieber & One Direction, American Music Awards, Paris attacks, Tori Kelly
Adele's 25 Won't Be On Streaming Services
Quick Hits: Kelly Clarkson, Missy Elliott, Jimmy Eat World, Freddie Mercury, Bonnaroo
Zayn Malik Opens Up About One Direction Exit
Quick Hits: Firefly Music Festival, Eagles of Death Metal, Grammy Hall of Fame
Adele Unleashes Video For "When We Were Young"
Quick Hits: Tom Petty, Bruce Springsteen, Tool, Hangout Music Festival, Oasis

Manny Simon
VP/Adult Formats,
Republic Records

FMQB Member Login

Not a member yet?
Sign up Now!
Sign Up for Breaking News!
Enter FMQB E-Tracking!