Live Nation Sells Three Divisions of SFX Sports to Blue Equity, LLC

08/22/2006
Company Sold SFX Golf and SFX Football Divisions Earlier This Summer

LOS ANGELES, Aug. 22 /PRNewswire-FirstCall/ -- Live Nation (NYSE: LYV), a leading live event and venue management company, announced today that it has sold its SFX Television and SFX Events divisions to the Louisville, Kentucky-based private equity firm Blue Equity, LLC. The company sold its SFX Tennis division to Blue Equity, LLC last month.

In addition to the sale to Blue Equity, LLC, Live Nation divested other sports properties earlier this summer, including its Golf and Football divisions, both of which were sold to their respective division principals, Golf's John Mascatello and Football's Jim Steiner and Ben Dogra.

"The sale of these SFX sports divisions is in line with our strategy to focus on our core businesses of live music concerts, venue management and website brand development," said Live Nation President and Chief Executive Officer Michael Rapino.

About Live Nation

Live Nation is a leading live event and venue management company focused on creating superior experiences for artists, performers, corporations and fans. Live Nation owns, operates and/or has booking rights for 153 venues worldwide and produced more than 29,500 events in 2005. Headquartered in Los Angeles, California, Live Nation is listed on the New York Stock Exchange, trading under the symbol "LYV." For more information regarding Live Nation and its businesses, please visit the company's website at www.livenation.com

SOURCE Live Nation
CONTACT: John Vlautin of Live Nation, +1-310-867-7127, johnvlautin@livenation.com
Web site: http://www.livenation.com
(LYV)

logo