EX-99.1

- Continues to Execute on Vertically Integrated Global Live Music Platform Strategy -

to $181 Million, an increase of 16%, and Operating Income to $82.1 Million -

LOS ANGELES – February 28, 2008 – Live Nation (NYSE: LYV), the world’s largest live music company, announced today its financial results for the three and twelve months ended December 31, 2007.

For the fourth quarter of 2007, the company reported revenue of $1.0 billion, a decrease of $45.2 million, or 4.3%, as compared to the fourth quarter of 2006 driven primarily by the timing of large music tours during the period. Adjusted OIBDAN was $32.6 million, an increase of $11.8 million, or 56.5%, as a result of improved results in North American and International Music. These improvements were partially offset by the expected decline in Global Artists due to the timing and number of large music tours in 2007 as compared to 2006. Operating income was $4.2 million, an improvement from an operating loss of $14.7 million in 2006. Net loss improved 44.6% to a loss of $18.4 million, or a loss of $0.25 per share.

For the full year 2007, the company reported revenue of $4.2 billion, an increase of $473.3 million, or 12.8%, as compared to 2006 driven by increases in revenue in North American and International Music primarily driven by acquisitions. Adjusted OIBDAN was $180.9 million, an increase of 15.9%, as a result of improved results in North American and International Music and Global Theater. These improvements were partially offset by a decline in Global Artists due to an expected reduction in touring artists during 2007. Operating income was $82.1 million, an increase of $49.0 million, or 148.0%. Net loss was $11.9 million, or a loss of $0.17 per share, compared to a loss of $31.4 million, or a loss of $0.48 per share in 2006. As of December 31, 2007, the company had free cash of $84.7 million as compared to $36.1 million at December 31, 2006.

Michael Rapino, President and Chief Executive Officer of Live Nation, commented: “During 2007, we made substantial progress in executing on our strategic plan to fully capitalize on our global leadership position in live music. We consolidated our global network and strengthened our core business through changes in how we drive revenue, manage our costs and measure our success. Our improved performance reflects early returns from the investments we made in transitioning our core business into a more focused, profit-driven organization. We also made substantial progress in building an integrated platform aimed at further strengthening and monetizing the relationship between artists, fans and sponsors — before, during and after live events. In the year ahead, we remain focused on driving our core business and implementing our plan to capitalize on the transformation of the global music industry.”

“We currently expect 2008 to be another healthy and growing period for the live music industry,” Rapino continued. “As a result of our efforts to streamline our core business and expand our revenue streams, we believe we are very well positioned to benefit from the industry’s growth. Among other initiatives, we will continue to build out our ticketing and digital media presence as we prepare to take control of our tickets beginning in 2009. We believe the economics of our ticketing business are compelling, given the growth opportunities we plan to pursue and the relatively limited investment we are making in our infrastructure as a result of our partnership with CTS Eventim. We will also focus on signing additional artists to our Live Nation Artists business and expanding our relationships with major corporate sponsors. As the year unfolds, we expect to increasingly demonstrate the benefits of our integrated model, as we continue to execute on our strategic plan.”

•

Successfully executed initiatives to improve performance of North American Amphitheaters, delivering $67.7 million in 2007 pro forma Amphitheater Adjusted OIBDAN, an increase of 49% over 2006, and $38.4 million in pro forma Amphitheater Operating Income.

•

Expanded venue and distribution platform through the addition of five mid-sized music venues and one new House of Blues® club in three new markets in North America in addition to market expansion in Canada and entry into Dubai.

•

Entered into long-term agreement with CTS Eventim that will enable the company to launch its own ticketing business and begin selling tickets for its 2009 events. The new ticketing platform will allow the company to control customer data, to create enhanced ticket-based concert products, drive its e-commerce audience and increase advertising and sponsorship revenue.

•

Entered into ten-year diversified rights and touring agreement with Madonna, the founding artist for the company’s Live Nation Artists division. The relationship encompasses Madonna’s future music and music-related businesses, including the exploitation of the Madonna brand, touring, merchandising, fan club/website, DVDs, music-related television and film projects, distribution of recorded music and associated sponsorship agreements.

•

Completed divestiture in 2007 of the company’s theatrical business in Chicago and in early 2008 of substantially all of its remaining North American theatrical business for total gross proceeds of $150 million. These sales further focus the company on its core music operations.

•

Entered into strategic marketing alliance with Citi® that capitalizes on the company’s fully integrated music platform, including concerts, online ticketing and access to Live Nation Artists, to deliver a uniquely comprehensive music experience to Citi® customers in the United States.

¹Includes the divestiture of a portion of our North American sports representation business and our UK sports representation business throughout 2006, the acquisition of CPI in May 2006, the acquisition of Trunk in June 2006, the acquisition of Musictoday in September 2006, the acquisition of House of Blues in November 2006, the acquisition of Gamerco in December 2006, the divestiture of Donington Racetrack in January 2007, the divestiture of the remaining stake in Phantom — The Vegas Spectacular in March 2007, the divestiture of the Nashville amphitheater in April 2007, the divestiture of Hammersmith Apollo and the Forum in June 2007, the acquisition of the remaining 50% interest in House of Blues Concerts Canada and consolidation of those results in June 2007, the consolidation of Academy Music Group’s financial results which occurred in July 2007, the sale of selected Mean Fiddler venues in August 2007, the sale of the Odeon venue in August 2007, the acquisition of Anthill Trading in October 2007, the disposition of Broadway in Chicago and the Oriental Theater in December 2007 and the acquisition of Signatures Network in December 2007 as if all of these transactions were completed on the first day of the period presented.

•

decreased revenue in our North American Music segment driven by a reduction in the number of amphitheater events, and

•

reduction in International Music due to shut-down of The Point in Ireland for expansion in August 2007 (the venue is expected to re-open in early 2009),

•

offset by increased revenue in our International Music segment due to an increase in the number of events and attendance.

•

improved North American Music amphitheater operations and cost savings realized from the 2006 House of Blues acquisition,

•

reduction in operating expenses due to employee bonus conversion from stock to cash,

•

partially offset by the shut-down of The Point in Ireland for expansion, and

•

Global Artists reductions due to reduced touring activity and increased costs to build the Live Nation Artists platform.

•

increased gain on sale of operating assets due primarily to the sale of our Chicago theatrical business,

•

partially offset by an increase in non-cash compensation expense during the quarter.

•

reduced revenue in our North American Music segment due to fewer events in our amphitheaters,

•

reduction in International Music due to shut-down of The Point for expansion,

•

offset by increased revenue from our International Music operations from increased promotion events and attendance and improved festival results.

•

improved North American Music amphitheater operations and cost savings realized from the 2006 House of Blues acquisition, and

•

offset by reduced results in North American Music arena and third-party events,

•

Global Artists reductions due to reduced touring activity and increased costs to build the Live Nation Artists platform.

•

partially offset by an increase in non-cash compensation expense during the year.

²Includes the acquisition of House of Blues in November 2006, the divestiture of the Nashville amphitheater in April 2007, the acquisition of the remaining 50% interest in House of Blues Concerts Canada and consolidation of those results in June 2007 and the sale of the Odeon club in August 2007 as if all of these transactions were completed on the first day of the period presented.

North American Music pro forma revenue decreased due to fewer events at our amphitheaters, consistent with our strategy to reduce unprofitable, low-attendance events, partially offset by higher arena revenues based on higher attendance and ticket prices and incremental revenues from several new mid-sized venues including the Dodge Theatre, the Hollywood Palladium and The Fillmore Miami Beach at the Jackie Gleason Theater.

Pro forma Adjusted OIBDAN increased due to improved amphitheater operations, cost savings realized from the 2006 acquisition of House of Blues and bonus payments for certain employees that will be paid in stock in lieu of cash. These increases were partially offset by reduced arena and third-party promotion activity results.

The increase in pro forma operating income is primarily a result of the improvement in Adjusted OIBDAN discussed above partially offset by an increase in non-cash compensation expense for bonuses to be paid in stock.

³Includes the acquisition of Gamerco in December 2006, the divestiture of Hammersmith Apollo and the Forum in June 2007, the consolidation of Academy Music Group’s financial results which occurred in July 2007 and the sale of selected Mean Fiddler venues in August 2007 as if all of these transactions were completed on the first day of the period presented.

International Music pro forma revenue increased due to an increase in revenue from our European operations driven by increased promotion activity in Italy, Finland, Spain, Norway and Holland and stronger results for several festivals in the United Kingdom. Partially offsetting these increases was a decline in revenue from the shut-down of The Point for expansion.

Pro forma Adjusted OIBDAN increased due to stronger results at several of our festivals in the United Kingdom and improved promotion activity in several European countries, partially offset by a reduction due to the shut-down of The Point for expansion.

The increase in pro forma operating income for International Music was due to the increase in Adjusted OIBDAN as noted above.

⁴Includes the acquisition of CPI in May 2006, the acquisition of Trunk in June 2006, the acquisition of Musictoday in September 2006, the acquisition of Anthill in October 2007 and the acquisition of Signatures in December 2007 as if all of these transactions were completed on the first day of the period presented.

Global Artists revenue decreased due to a decline in global touring revenue driven by a decline in the average ticket price and the timing and mix of global tours in 2007.

Adjusted OIBDAN decreased due to a decline in global touring activity during 2007 along with the investment made in building the Live Nation Artists division during the period.

The increased operating loss was a result of a decline in global tour activity and the increased amortization expense for intangible assets related to our acquisition of CPI and artist rights agreements.

Global Digital revenue decreased slightly due to timing of sponsorship revenues.
Adjusted OIBDAN decreased due to increased salary related to new staff, increased maintenance and consultant expenses related to our internal information technology and our website management.

Operating loss increase was due to the increased salary, maintenance and consultant expenses related to our internal information technology and our website management and higher depreciation costs for systems completed and in operation.

Live Nation is the future of the music business. With the most live concerts, music venues and festivals in the world and the most comprehensive concert search engine on the web, Live Nation is revolutionizing the music industry: onstage and online. Headquartered in Los Angeles, California, Live Nation is listed on the New York Stock Exchange, trading under the symbol “LYV”.

The company will host a teleconference today, February 28^th, 2008 at 5:00 p.m. Eastern Time, which can be accessed by dialing 888-603-6873 (U.S.) or 973-321-1019 (Int’l) and referencing passcode 36254047. To access the call via webcast, please visit the Investor Relations section of the company’s website at www.livenation.com under “About Us”.

Forward Looking Statements, Non-GAAP Financial Measures and Reconciliations:

Certain statements in this press release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements regarding the potential health and growth of the live music industry in 2008; Live Nation’s competitive position within the industry and its potential to benefit from that anticipated growth; the company’s efforts to build out its ticketing and e-commerce businesses, and the potential economics and growth opportunities related to those businesses; the company’s intention to sign additional artists to its Live Nation Artists business; and the expectation that the company will expand its relationships with major corporate sponsors. Live Nation wishes to caution you that there are some known and unknown factors that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements, including but not limited to operational challenges in achieving strategic objectives and executing on the company’s plans, the risk that the company’s markets do not evolve as anticipated, the potential impact of any general economic slowdown, competition for corporate sponsors and in the industry generally, operational challenges associated with building out the company’s ticketing and digital media operations and difficulties in attracting established artists away from more traditional contract structures.

Live Nation refers you to the documents it files from time to time with the U.S. Securities and Exchange Commission, specifically the section titled “Item 1A. Risk Factors” of the company’s most recent Annual Report filed on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, which contain and identify other important factors that could cause actual results to differ materially from those contained in our projections or forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date on which they are made. All subsequent written and oral forward-looking statements by or concerning Live Nation are expressly qualified in their entirety by the cautionary statements above. Live Nation does not undertake any obligation to publicly update or revise any forward-looking statements because of new information, future events or otherwise.

This press release contains certain non-GAAP financial measures as defined by SEC Regulation G. A reconciliation of each such measure to its most directly comparable GAAP financial measure, together with an explanation of why management believes that these non-GAAP financial measures provide useful information to investors, is provided below.

Adjusted OIBDAN is a non-GAAP financial measure that the company defines as operating income (loss) before certain unusual and/or non-cash charges, depreciation and amortization, loss (gain) on sale of operating assets and non-cash compensation expense. The company uses Adjusted OIBDAN to evaluate the performance of its operating segments. The company believes that information about Adjusted OIBDAN assists investors by allowing them to evaluate changes in the operating results of the company’s portfolio of businesses separate from non-operational factors that affect net income, thus providing insights into both operations and the other factors that affect reported results. Adjusted OIBDAN is not calculated or presented in accordance with U.S. generally accepted accounting principles. A limitation of the use of Adjusted OIBDAN as a performance measure is that it does not reflect the periodic costs of certain capitalized tangible and intangible assets used in generating revenue in the company’s business. Accordingly, Adjusted OIBDAN should be considered in addition to, and not as a substitute for, operating income (loss), net income (loss), and other measures of financial performance reported in accordance with U.S. GAAP. Furthermore, this measure may vary among other companies; thus, Adjusted OIBDAN as presented herein may not be comparable to similarly titled measures of other

Free cash is a non-GAAP financial measure that the company defines as cash and cash equivalents less event-related deferred income, less accrued artist fees, less collections on behalf of others plus prepaids related to artist settlements/events. The company uses free cash as a proxy for how much cash it has available to, among other things, optionally repay debt balances, make acquisitions and finance new venue expenditures. Free cash is not calculated or presented in accordance with U.S. generally accepted accounting principles. A limitation of the use of free cash as a performance measure is that it does not necessarily represent funds available for operations and it is not necessarily a measure of our ability to fund our cash needs. Accordingly, free cash should be considered in addition to, and not as a substitute for, cash and cash equivalents and other measures of financial performance reported in accordance with U.S. GAAP. Furthermore, this measure may vary among other companies; thus, free cash as presented herein may not be comparable to similarly titled measures of other companies.


	Year Ended December 31,
	2007			2006			2005
	(in thousands except share and per share data)
Revenue	$	4,184,981		$	3,711,715		$	2,936,845
Operating expenses:
Direct operating expenses		3,333,572			2,997,863			2,310,925
Selling, general and administrative expenses		653,811			530,340			518,907
Depreciation and amortization		120,828			128,167			64,622
Loss (gain) on sale of operating assets		(51,226	)		(11,640	)		4,859
Corporate expenses		45,854			33,863			50,715

Operating income (loss)		82,142			33,122			(13,183	)
Interest expense		61,915			37,218			6,059
Interest expense with Clear Channel Communications		—			—			46,437
Interest income		(14,479	)		(12,446	)		(2,506	)
Equity in losses (earnings) of nonconsolidated affiliates		(4,806	)		(8,407	)		276
Minority interest expense		7,869			12,209			5,236
Other expense (income) — net		(13	)		(1,220	)		446

Income (loss) before income taxes		31,656			5,768			(69,131	)
Income tax expense (benefit):
Current		35,943			26,876			(53,025	)
Deferred		7,649			10,334			114,513

Net loss		(11,936	)		(31,442	)		(130,619	)
Other comprehensive income (loss), net of tax:
Unrealized holding gain (loss) on cash flow derivatives		(1,888	)		104			—
Foreign currency translation adjustments		37,579			27,032			(4,398	)

Comprehensive income (loss)	$	23,755		$	(4,306	)	$	(135,017	)

Basic and diluted net loss per common share	$	(0.17	)	$	(0.48	)	$	(1.96	)

Basic and diluted weighted average common shares outstanding		68,440,582			64,853,243			66,809,394


	December 31,
	2007			2006
	(in thousands except share data)
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	338,991		$	313,880
Accounts receivable, less allowance of $18,928 in 2007 and $13,465 in 2006		264,316			250,831
Prepaid expenses		186,379			136,938
Other current assets		44,722			38,519

Total Current Assets		834,408			740,168
PROPERTY, PLANT AND EQUIPMENT Land, buildings and improvements		1,018,079			999,561
Furniture and other equipment		236,320			193,290
Construction in progress		51,725			43,370

		1,306,124			1,236,221
Less accumulated depreciation		391,079			360,049

		915,045			876,172
INTANGIBLE ASSETS
Intangible assets — net		382,999			73,398
Goodwill		471,542			423,169
OTHER ASSETS Notes receivable, less allowance of $745 in 2007 and $545 in 2006		1,703			2,613
Investments in nonconsolidated affiliates		23,443			59,283
Other assets		122,963			50,199

Total Assets	$	2,752,103		$	2,225,002

LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES
Accounts payable	$	79,273		$	40,646
Accrued expenses		529,984			471,414
Deferred revenue		259,868			230,179
Current portion of long-term debt		36,345			31,721

Total Current Liabilities		905,470			773,960
Long-term debt		786,261			607,425
Other long-term liabilities		91,465			88,790
Minority interest liability		61,841			76,165
Series A and Series B redeemable preferred stock		40,000			40,000
Commitments and contingent liabilities SHAREHOLDERS’ EQUITY
Preferred stock – Series A Junior Participating, $.01 par value; 20,000,000 shares authorized; no shares issued and outstanding		—			—
Preferred stock, $.01 par value; 30,000,000 shares authorized; no shares issued and outstanding		—			—
Common stock, $.01 par value; 450,000,000 shares authorized; 74,893,005 and 67,174,912 shares issued and outstanding in 2007 and 2006, respectively		749			672
Additional paid-in capital		940,848			757,748
Retained deficit		(130,941	)		(119,005	)
Cost of shares held in treasury (1,697,227 shares in 2006)		—			(21,472	)
Accumulated other comprehensive income		56,410			20,719

Total Shareholders’ Equity		867,066			638,662

Total Liabilities and Shareholders’ Equity	$	2,752,103		$	2,225,002

Reconciliation of Non-GAAP Measures to Their Most Directly Comparable GAAP Measures

Reconciliation of North American Music Adjusted OIBDAN to Operating Income / (Loss) – Fourth Quarter and Full Year


($ in thousands)	Three Months Ended,					Twelve Months Ended,
		12/31/2007		12/31/2006			12/31/2007			12/31/2006
Adjusted OIBDAN	$	14,857		($8,724	)	$	74,538		$	33,662
Depreciation and amortization		22,036		15,309			60,286			77,775
Loss (gain) on sale of operating assets		101		(62	)		(6,725	)		(63	)
Non-cash compensation expense		5,972		216			9,151			769
Non-cash impairment charge		0		0			0			0
Operating Income (Loss)		($13,252	)	($24,187	)	$	11,826			($44,819	)

Reconciliation of North American Amphitheater Adjusted OIBDAN to Operating Income / (Loss) – Full Year

Reconciliation of International Music Adjusted OIBDAN to Operating Income / (Loss) – Fourth Quarter and Full Year


($ in thousands)	Three Months Ended,						Twelve Months Ended,
		12/31/2007			12/31/2006			12/31/2007			12/31/2006
Adjusted OIBDAN	$	19,547		$	11,977		$	78,425		$	68,574
Depreciation and amortization		3,072			5,495			14,928			15,006
Loss (gain) on sale of operating assets		(157	)		(114	)		(18,807	)		1,041
Non-cash compensation expense		3,598			44			4,122			159
Non-cash impairment charge		0			0			0			0
Operating Income (Loss)	$	13,034		$	6,552		$	78,182		$	52,368

Reconciliation of Global Artists Adjusted OIBDAN to Operating Income / (Loss) – Fourth Quarter and Full Year


($ in thousands)	Three Months Ended,					Twelve Months Ended,
		12/31/2007			12/31/2006		12/31/2007			12/31/2006
Adjusted OIBDAN	$	606		$	20,914	$	9,595		$	36,018
Depreciation and amortization		9,461			4,265		19,849			6,121
Loss (gain) on sale of operating assets		0			0		0			0
Non-cash compensation expense		1,210			156		2,882			621
Non-cash impairment charge		0			0		0			0
Operating Income (Loss)		($10,065	)	$	16,493		($13,136	)	$	29,276

Reconciliation of Global Digital Adjusted OIBDAN to Operating Income / (Loss) – Fourth Quarter and Full Year


($ in thousands)	Three Months Ended,					Twelve Months Ended,
		12/31/2007		12/31/2006			12/31/2007		12/31/2006
Adjusted OIBDAN		($2,443	)	($880	)		($5,877	)	($5,579	)
Depreciation and amortization		1,141		172			3,311		501
Loss (gain) on sale of operating assets		0		0			0		0
Non-cash compensation expense		770		5			1,272		22
Non-cash impairment charge		0		0			0		0
Operating Income (Loss)		($4,354	)	($1,057	)		($10,460	)	($6,102	)

Reconciliation of Total Adjusted OIBDAN to Operating Income / (Loss) – Fourth Quarter and Full Year


($ in thousands)	Three Months Ended,						Twelve Months Ended,
		12/31/2007			12/31/2006			12/31/2007			12/31/2006
Adjusted OIBDAN	$	32,624		$	20,841		$	180,934		$	156,097
Depreciation and amortization		41,144			34,280			120,828			128,167
Loss (gain) on sale of operating assets		(30,292	)		(139	)		(51,226	)		(11,640	)
Non-cash compensation expense		17,582			960			29,190			3,431
Non-cash impairment charge		0			400			0			3,017
Operating Income (Loss)	$	4,190			($14,660	)	$	82,142		$	33,122

Reconciliation of North American Music Pro Forma to Actual Adjusted OIBDAN to Operating Income / (Loss) – Fourth Quarter and Full Year


				As Reported											Acquisitions/Divestitures ⁽²⁾									Pro Forma
	Three Months Ended			Three Months Ended			Twelve Months Ended			Twelve Months Ended			Three Months Ended		Three Months Ended		Twelve Months Ended		Twelve Months Ended		Three Months Ended			Three Months Ended			Twelve Months Ended			Twelve Months Ended
		12/31/07			12/31/06			12/31/07			12/31/06			12/31/07		12/31/06		12/31/07		12/31/06		12/31/07			12/31/06			12/31/07			12/31/06

Revenue		463,271			416,628			1,955,059			1,629,247			0		62,559		58,900		434,082		463,271			479,187			2,013,959			2,063,329
Adjusted OIBDAN		14,857			(8,724	)		74,538			33,662			0		2,945		2,755		19,297		14,857			(5,779	)		77,293			52,959
% Margin		3.2	%		(2.1	%)		3.8	%		2.1	%										3.2	%		(1.2	%)		3.8	%		2.6	%
Operating Income (Loss)		(13,252	)		(24,187	)		11,826			(44,819	)		0		2,157		4,312		10,874		(13,252	)		(22,030	)		16,138			(33,945	)
% Margin		(2.9	%)		(5.8	%)		0.6	%		(2.8	%)										(2.9	%)		(4.6	%)		0.8	%		(1.6	%)

Reconciliation of North American Amphitheater Pro Forma to Actual Adjusted OIBDAN to Operating Income / (Loss) – Full Year


							Acquisitions/
	As Re			ported			Divestitures			up>(2)		Pro Fo			rma
	Twelve Months Ended			Twelve Months Ended			Twelve Months Ended			Twelve Months Ended		Twelve Months Ended			Twelve Months Ended
		12/31/07			12/31/06			12/31/07			12/31/06		12/31/07			12/31/06

Revenue		571,136			566,199			869			78,924		572,005			645,123
Adjusted OIBDAN		68,441			40,506			(722	)		4,988		67,719			45,494
% Margin		12.0	%		7.2	%							11.8	%		7.1	%
Operating Income (Loss)		37,399			(29,048	)		993			3,409		38,392			(25,639	)
% Margin		6.5	%		(5.1	%)							6.7	%		(4.0	%)

Reconciliation of International Music Pro Forma to Actual Adjusted OIBDAN to Operating Income / (Loss) – Fourth Quarter and Full Year


				As Reported											Acquisitions/Divestitures ⁽³⁾									Pro Forma
	Three Months Ended			Three Months Ended			Twelve Months Ended			Twelve Months Ended			Three Months Ended		Three Months Ended		Twelve Months Ended		Twelve Months Ended		Three Months Ended			Three Months Ended			Twelve Months Ended			Twelve Months Ended
		12/31/07			12/31/06			12/31/07			12/31/06			12/31/07		12/31/06		12/31/07		12/31/06		12/31/07			12/31/06			12/31/07			12/31/06

Revenue		304,513			201,195			1,078,696			867,423			0		17,050		9,643		42,170		304,513			218,245			1,088,339			909,593
Adjusted OIBDAN		19,547			11,977			78,425			68,574			0		3,697		4,487		8,563		19,547			15,674			82,912			77,137
% Margin		6.4	%		6.0	%		7.3	%		7.9	%										6.4	%		7.2	%		7.6	%		8.5	%
Operating Income (Loss)		13,034			6,552			78,182			52,368			0		2,059		2,703		4,613		13,034			8,611			80,885			56,981
% Margin		4.3	%		3.3	%		7.2	%		6.0	%										4.3	%		3.9	%		7.4	%		6.3	%

Reconciliation of Global Artists Pro Forma to Actual Adjusted OIBDAN to Operating Income / (Loss) – Fourth Quarter and Full Year


				As Reported											Acquisitions/Divestitures ⁽⁴⁾									Pro Forma
	Three Months Ended			Three Months Ended			Twelve Months Ended			Twelve Months Ended			Three Months Ended		Three Months Ended		Twelve Months Ended		Twelve Months Ended		Three Months Ended			Three Months Ended			Twelve Months Ended			Twelve Months Ended
		12/31/07			12/31/06			12/31/07			12/31/06			12/31/07		12/31/06		12/31/07		12/31/06		12/31/07			12/31/06			12/31/07			12/31/06

Revenue		137,101			283,710			640,620			623,147			28,126		45,088		142,498		288,198		165,227			328,798			783,118			911,345
Adjusted OIBDAN		606			20,914			9,595			36,018			1,289		1,099		6,044		9,364		1,895			22,013			15,639			45,382
% Margin		0.4	%		7.4	%		1.5	%		5.8	%										1.1	%		6.7	%		2.0	%		5.0	%
Operating Income (Loss)		(10,065	)		16,493			(13,136	)		29,276			1,137		946		5,436		8,230		(8,928	)		17,439			(7,700	)		37,506
% Margin		(7.3	%)		5.8	%		(2.1	%)		4.7	%										(5.4	%)		5.3	%		(1.0	%)		4.1	%

Reconciliation of Total Pro Forma to Actual Adjusted OIBDAN to Operating Income / (Loss) – Fourth Quarter and Full Year


				As Reported											Acquisitions/Divestitures ⁽¹⁾									Pro Forma
	Three Months Ended			Three Months Ended			Twelve Months Ended			Twelve Months Ended			Three Months Ended		Three Months Ended		Twelve Months Ended		Twelve Months Ended		Three Months Ended			Three Months Ended			Twelve Months Ended			Twelve Months Ended
		12/31/07			12/31/06			12/31/07			12/31/06			12/31/07		12/31/06		12/31/07		12/31/06		12/31/07			12/31/06			12/31/07			12/31/06

Revenue		1,013,500			1,058,697			4,184,981			3,711,715			28,112		109,460		201,156		697,513		1,041,612			1,168,157			4,386,137			4,409,228
Adjusted OIBDAN		32,624			20,841			180,934			156,097			1,634		8,388		16,729		33,960		34,258			29,229			197,663			190,057
% Margin		3.2	%		2.0	%		4.3	%		4.2	%										3.3	%		2.5	%		4.5	%		4.3	%
Operating Income (Loss)		4,190			(14,660	)		82,142			33,122			1,642		6,387		16,729		22,615		5,832			(8,273	)		98,871			55,737
% Margin		0.4	%		(1.4	%)		2.0	%		0.9	%										0.6	%		(0.7	%)		2.3	%		1.3	%


Media Contact:		Investor Contact:
John Vlautin Live Nation 310-867-7000		Brad Edwards Brainerd Communicators, Inc. 212-986-6667


	December 31, 2007	December 31, 2006
Cash and Cash Equivalents	$ 338,991	$ 313,880
Deferred Income	$ (223,702)	$ (183,471)
Accrued Artist Fees	$ (28,393)	$ (19,108)
Collections on Behalf of Others	$ (117,165)	$ (136,643)
Prepaids related to artist settlements/events	$ 114,991	$ 61,429

Free Cash	$ 84,722	$ 36,087


							Total Company
							Pro Forma⁽¹⁾
(in thousands)	Three Months Ended,													Twelve Months Ended,

	12/31/2007						12/31/2006				%			12/31/2007					12/31/2006					%

Revenue	$1,041,612						$1,168,157			(10.8%)				$4,386,137					$4,409,228					(0.5	%)
Adjusted OIBDAN	$34,258						$29,229			17.2%				$197,663					$190,057					4.0	%
% Margin					3.3	%		2.5	%			—					4.5	%				4.3	%	—
Operating Income (Loss)	$5,832						($8,273)					*	*	$98,871					$55,737					77.4	%
% Margin		0.6	%	(0.7%)							-				2.3	%				1.3	%			-


					Pro Forma⁽²⁾
(in thousands)		Three Months Ended,							Twelve Months Ended,

	12/31/2007					12/31/2006		%					12/31/2007			12/31/2006		%

Revenue		$	463,271		$	479,187				(3.3	%)	$	2,013,959		$	2,063,329		(2.4	%)
Adjusted OIBDAN		$	14,857			($5,779	)			*	*	$	77,293		$	52,959		45.9	%
% Margin			3.2	%		(1.2	%)			—			3.8	%		2.6	%	—
Operating Income
(Loss)	($13,252)					($22,030	)			39.8	%	$	16,138			($33,945	)	*	*
% Margin			(2.9	%)		(4.6	%)			—			0.8	%		(1.6	%)	—


		Pro Forma⁽³⁾
(in thousands)		Three Months Ended,								Twelve Months Ended,

	12/31/2007					12/31/2006		%			12/31/2007			12/31/2006		%

Revenue		$	304,513		$	218,245		39.5	%	$	1,088,339		$	909,593		19.7	%
Adjusted OIBDAN		$	19,547		$	15,674		24.7	%	$	82,912		$	77,137		7.5	%
% Margin			6.4	%		7.2	%	—			7.6	%		8.5	%	—
Operating Income (Loss)		$	13,034		$	8,611		51.4	%	$	80,885		$	56,981		42.0	%
% Margin			4.3	%		3.9	%	—			7.4	%		6.3	%	—


Pro Forma⁽⁴⁾
(in thousands)		Three Months Ended,						Twelve Months Ended,

	12/31/2007			12/31/2006		%			12/31/2007			12/31/2006		%

Revenue	$165,227		$	328,798		(49.7	%)	$	783,118		$	911,345		(14.1	%)
Adjusted OIBDAN	$1,895		$	22,013		(91.4	%)	$	15,639		$	45,382		(65.5	%)
% Margin	1.1%			6.7	%	-			2.0	%		5.0	%	-
Operating Income (Loss)	($8,928)		$	17,439		*	*		(7,700	)		37,506		*	*
% Margin	(5.4%)			5.3	%	-			(1.0	%)		4.1	%	-


(in thousands)		Three Months Ended,									Twelve Months Ended,
	12/31/2007				12/31/2006			%			12/31/2007			12/31/2006			%
Revenue		$	2,324		$	3,682			(36.9	%)	$	11,358		$	8,893			27.7	%
Adjusted OIBDAN			($2,443	)		($880	)		177.6	%		($5,877	)		($5,579	)		5.3	%
% Margin			(105.1	%)		(23.9	%)		—			(51.7	%)		(62.7	%)		—
Operating Income (Loss)			($4,354	)		($1,057	)		311.9	%		(10,460	)		(6,102	)		71.4	%
% Margin			(187.3	%)		(28.7	%)		—			(92.1	%)		(68.6	%)		—