Concert promoter Live Nation Entertainment Inc said Chairman Irving Azoff resigned from its board with immediate effect, and that Liberty Media Corp increased its stake in the company to 26.4 percent. Media mogul John Malone's Liberty Media purchased 1.7 million of Live Nation's shares from Azoff, Live Nation said in a statement.Liberty Media held a 25.52 percent stake in Live Nation as of July 10, according to a regulatory filing.Azoff, 64, is also stepping down as the chief executive of Live Nation's Front Line Management Group, an artist management company.Live Nation said it does not expect Azoff's departure to impact its results.
Live Nation Entertainment, Inc. (Live Nation) is a live entertainment company. Shares of LYV traded higher by 3.67% or $0.33/share to $9.31. In the past year, the shares have traded as low as $8.01 and as high as $11.00. On average, 854351 shares of LYV exchange hands on a given day and today's volume is recorded at 1154648.
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