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
Jon Pinch Delays Retirement, Named Market Manager At Cumulus-Atlanta
iHeartMedia Names Earl Jones SVP, Urban Operations
Report: Few 13-20’s Name FM As #1 Music Source
New Study: Radio An Effective Way To Influence Swing Voters
In Brief - September 29, 2014
September 26, 2014
eQB NOW
The Week In Review: 9/22-9/26
Cox Media Group Names Pete Spriggs News/Talk/Sports Radio Format Leader, Drew Anderssen Format Coordinator
Mann Gets HOT From HITS In Bakersfield
ErrorFM.com Announces Launch Date, Features
In Brief - September 26, 2014
September 25, 2014
iHeartRadio Music Festival Generates 5 Billion Social Impressions
In Brief - September 25, 2014
September 24, 2014
Report: Southern California Broadcasters Association White Paper
In Brief - September 24, 2014
September 23, 2014
Jelli Selects Digigram To Provide Sound Cards For RadioSpot
In Brief - September 23, 2014
September 22, 2014
BIA/Kelsey Projects $139.3 Billion In Local Media Revenue By 2015
Allison Warren Named VP/Market Manager For Cumulus-Nashville
Lauren MacLeash Named OM For CBS Radio's KMNB, KZJK/Minneapolis
CBS Radio’s “We Can Survive” Concert Returns On October 24
In Brief - September 22, 2014
September 19, 2014
Broadcast Music, Inc. Reports Record-Breaking Revenues Of $977 Million
The Week In Review: 9/15-9/19
Music News
Taylor Swift, Metallica & More Headlining 2015 Rock In Rio USA
Quick Hits: Britney Spears, Prince, Birdman, Black Sabbath, Rancid
Thom Yorke Releases Surprise Solo Album Via BitTorrent
The Week In Review: 9/22-9/26
Quick Hits: R.E.M., AC/DC, U2
Metallica Has Goodies In Store This Holiday Season
Quick Hits: Justin Bieber, Kanye West, Wiz Khalifa & Amber Rose, Brandi Carlile, Neil Young, Bob Seger
Streisand, Chris Brown Top SoundScan Sales Chart
Nickelback Moving To No Fixed Address In November
Quick Hits: AC/DC, Bruce Springsteen, Weezer, Outkast, The Who
T.I. Gets Paperwork In Order
FMQB Photo Pass: Lily Allen
Quick Hits: Kelly Clarkson, Bob Dylan, Iggy Azalea, Lana Del Rey, Jeff Bridges
iHeartRadio Festival Takes Over Vegas
FMQB Photo Pass: Black Keys
FMQB NOW

Celebrating
The History Of
WFLZ/Tampa

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!