Annual report pursuant to Section 13 and 15(d)

BUSINESS ACQUISITIONS (Tables)

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BUSINESS ACQUISITIONS (Tables)
 12 Months Ended
Dec. 31, 2011
BUSINESS ACQUISITIONS [Abstract]  
Identifiable Assets Acquired, Liabilities Assumed and Noncontrolling Interests
The following table summarizes the acquisition-date fair value of the identifiable assets acquired, liabilities assumed and noncontrolling interests including an amount for goodwill:
 
   
(in thousands)
  
Fair value of consideration transferred
   $ 930,130  
Plus: Fair value of noncontrolling interests
     147,443  
Less: Recognized amounts of identifiable assets acquired and liabilities assumed
        
Cash and cash equivalents
     575,579  
Accounts receivable
     137,600  
Prepaid expenses
     48,174  
Other current assets
     32,170  
Asset held for sale (Paciolan)
     30,000  
Property, plant and equipment
     64,839  
Intangible assets
     937,980  
Investments in nonconsolidated affiliates
     24,630  
Other long-term assets
     42,163  
Accounts payable, client accounts
     (393,807 )
Accounts payable
     (23,741 )
Accrued expenses
     (134,642 )
Deferred revenue
     (26,210 )
Other current liabilities
     (21,815 )
Long-term debt
     (837,329 )
Long-term deferred income taxes
     (252,735 )
Other long-term liabilities
     (109,784 )
         
Goodwill
   $ 984,501  
 
Actual Impact of Acquisition From the Merger Date
The revenue, income from continuing operations and net income of Ticketmaster that are included in the Company's 2010 statement of operations since the Merger are detailed below. These amounts are not necessarily indicative of the results of operations that Ticketmaster would have realized if it had continued to operate as a stand-alone company during the period presented primarily due to the elimination of certain headcount and administrative costs since the Merger that are the result of synergy impacts or due to costs that are now reflected by the Company in its results of operations and not allocated to Ticketmaster.
 
   
From the Merger
Date through
December 31, 2010
 
   
(in thousands)
  
Revenue
   $ 1,246,546  
Income from continuing operations
   $ 47,722  
Net income attributable to
        
Live Nation Entertainment, Inc.
   $ 47,124  
 
Unaudited Pro Forma Consolidated Results of Operations
The unaudited pro forma consolidated results of operations, assuming the acquisition had occurred on January 1, 2009 are as follows:
 
   
Year Ended December 31,
  
   
2010
    
2009
  
   
(in thousands)
  
Unaudited pro forma consolidated results:
            
Revenue
   $ 5,089,110     $ 5,514,988  
Income (loss) from continuing operations
   $ (156,026 )   $ (16,874 )
Net income (loss) attributable to Live Nation Entertainment, Inc.
   $ (179,656 )   $ 55,213