Live Nation Moving Into 360 Territory

From Ethan Smith, Wall Street Journal:

The world's largest concert promoter, Live Nation Inc., has come to a sobering conclusion: Staging live music events isn't enough to drive the growth it needs to thrive in the convulsing music business.

So Chief Executive Michael Rapino has mounted what he calls a "transformation" aimed at finding new ways -- big and small -- to use its platform as a giant in the concert business as a base for expansion.

Part of that transformation means moving into areas traditionally controlled by other players in the music industry, such as record labels. Mr. Rapino has already made waves this year with a $120 million deal with singer Madonna, which, in a first for the company, includes recording as well as touring. He says he is on the hunt for several more such deals. He also made a controversial decision to part ways with Ticketmaster when the company's contract expires at the end of 2008, and run much of the ticketing operation itself.

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