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
NuVoodoo Ratings Prospect Study Reveals Broadcast Radio Beats Pandora For Music Satisfaction
CBS Radio Adds To Sports Programming Leadership Team
iHeartRadio Survey: Carrie Underwood Musicís Best Female Role Model
In Brief - August 21, 2014
August 20, 2014
Cox Media Group Tampa Names Dan Mason OM For HOT 101.5, 97X, 102.5 The Bone
Logan Named PD/Morning Host At WNCV/Fort Walton Beach
Jay Towers Promoted To Anchor Of Fox 2 Morning News in Detroit
In Brief - August 20, 2014
August 19, 2014
Greg Ausham Named PD At WNNX/Atlanta
Emmis Communications, Beasley Broadcast Group Deploy Jelli Radio Ad Platform In Major Markets
Cumulus Taps Dan Mandis As PD Of WWTN/Nashville
In Brief - August 19, 2014
August 18, 2014
Republic Records Promotes David "Davey Dee" Ingenloff to VP/Rhythm Crossover Promotion
NAB President/CEO Gordon Smith To Keynote The Conclave
Westwood One Names George King VP/Programming, Network Formats
Cox Media Group Miami Launches The DJ Laz Morning Show on WFLC
Vince Szydlowski Named SVP, Label Sales For Capitol Music Group
In Brief - August 18, 2014
August 15, 2014
eQB NOW
The Week In Review: 8/11-8/15
CCM+E Miami Names Michael "Mud" Gross PD At WBGG-FM
WQHT/New York MD Karlie Hustle Resigns
Townsquare Media Promotes Heather DeLuca to Brand Manger for WSJO/Atlantic City
RAB Report: Radio's Q2 '14 Revenue Performance Down 3%
CMG San Antonio Rebrands 106.7 FM as The Eagle
In Brief - August 15, 2014
Music News
Nickelback Signs With Republic Records
Quick Hits: Nico & Vinz, Sam Smith, Weezer, Ariana Grande, Shelby Lynne, Enrique Iglesias, T.I., Iggy Azalea
Quick Hits: album sales, Taylor Swift, Foo Fighters, Super Bowl halftime show, Gerard Way, Tiesto, Smashing Pumpkins
New Taylor Swift Album Due Out October 27
Quick Hits: Lady Gaga & Tony Bennett, Haim, Fashion Rocks concert, T.I., iTunes Festival, Unlocking the Truth, Leonard Cohen
Colbie Caillat Sets September 30 Street Date
Quick Hits: Coldplay, U2, Christina Aguilera, B.o.B, Wiz Khalifa, Becky G, Bob Seeger
Lil Wayne's Tha Carter V Coming October 28
Quick Hits: Nickelback, Sia, Shindig Music Festival, Def Jam Records, Annie Lennox
The Week In Review: 8/11-8/15
Quick Hits: Taylor Swift, Sam Smith, Meghan Trainor, Primus / Tool, Becky G, John Mellencamp
Guardians Of The Galaxy's Awesome Mix Hits #1
Quick Hits: Nicki Minaj, Death Cab For Cutie, Metro Station, Celine Dion, She & Him, Karen O
Honda Stage Launches at iHeartRadio Theater L.A.
Quick Hits: Kings Of Leon, Daft Punk, Linkin Park's Joe Hahn, Goo Goo Dolls, Bob Weir & RatDog
FMQB NOW

Sean Demery, PD
WYMS/Milwaukee

Advertisement:
Search FMQB.com
Advertisements:
FMQB Member Login
Email:
Pass:

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