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Live Nation Entertainment Acquires Leading Australian Promoter Michael Coppel Presents
Apr 04, 2012 (05:04 PM EDT)
LOS ANGELES, April 4, 2012 /PRNewswire/ -- Live Nation Entertainment, Inc. (NYSE: LYV) today announced the acquisition of Michael Coppel Presents, one of the leading promoters in Australia and New Zealand.
"We have worked with Michael Coppel on a number of tours over the years and are now extremely pleased to be welcoming such a well respected and successful promoter into our international network," said Michael Rapino, President and Chief Executive Officer of Live Nation. "Australia is the 6th largest music market in the World and an increasingly important touring market for international artists. It represents a significant part of our opportunity for international growth."
"I am delighted to be joining Live Nation and look forward to working with Luke, Roger and my current team, together with the touring teams in Los Angeles and London to firmly establish Live Nation as the leading promoter in Australia and New Zealand," said Michael Coppel.
Michael Coppel has been one of the most prominent and active concert promoters in Australia and New Zealand for over 30 years. He promotes several hundred shows per year and sells up to 1.7 million tickets annually to concerts including artists such as U2, Pink, Metallica, Lady Gaga, Taylor Swift, Roger Waters, Eric Clapton, RHCP, Beyonce and Rihanna. In 2009, he was responsible for the 58 date sell out arena tour by Pink which yielded over 658,000 ticket sales.
Live Nation's existing business in Australia and New Zealand, led by Luke Hede and Roger Field, will be combined with the acquired business, which will be renamed Live Nation Australasia. Michael Coppel will lead the business as President and Chief Executive Officer, with Luke and Roger continuing as Vice Presidents-Promotions.
About Live Nation Entertainment:
Live Nation Entertainment is the world's leading live entertainment and ecommerce company, comprised of four market leaders: Ticketmaster.com, Live Nation Concerts, Front Line Management Group and Live Nation Network. Ticketmaster.com is the global event ticketing leader and one of the world's top five ecommerce sites, with almost 27 million monthly unique visitors. Live Nation Concerts produces over 22,000 shows annually for more than 2,300 artists globally. Front Line is the world's top artist management company, representing over 250 artists. These businesses power Live Nation Network, the leading provider of entertainment marketing solutions, enabling nearly 800 advertisers to tap into the 200 million consumers Live Nation delivers annually through its live event and digital platforms. For additional information, visit www.livenation.com/investors.
SOURCE Live Nation Entertainment