Live Nation Entertainment, Inc.NYSE
Live Nation: The Best Way To Invest In Live Entertainment, But At What Cost?
Luis V. Sanchez • 16 Comments
Luis V. Sanchez • 16 Comments
Mon, Nov. 7, 4:26 PM
Sun, Nov. 6, 5:35 PM
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Fri, Oct. 28, 5:35 PM
- The day after it eked out a gain following an earnings miss, World Wrestling Entertainment (NYSE:WWE) gave up 5.8% today as analysts came in with downgrades.
- Shares had finished up 0.3% after opening to the downside yesterday. Today, Wells Fargo downgraded shares to Market Perform, from Outperform, and Pacific Crest downgraded to Sector Weight from Overweight and pulled its price target. Deutsche Bank, meanwhile, downgraded to Sell.
- The question of M&A came up (spurred, as it usually is recently, by AT&T/Time Warner) on the company's earnings call, put by BTIG's Brandon Ross. "Again, we're open to anything," says CEO Vince McMahon, "so it's not a question of if the right deal came along, it's one of those things where you do, to do any good reviews, we're listening."
- "The old 'content is king' is true, maybe truer today than it's ever been. So we're open for business," he said.
- FBN's Robert Routh has a few ideas ("admittedly only pure speculation") about strategic options: "Given the existing partnership with NBCUniversal it seems Comcast (NASDAQ:CMCSA) could be a logical fit for WWE, as could MSG (NYSE:MSGN) or possibly even Live Nation (NYSE:LYV)."
Thu, Jul. 28, 4:31 PM
Wed, Jul. 27, 5:35 PM
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Tue, Jun. 28, 2:39 AM
- Replacing Live Nation's Ticketmaster (NYSE:LYV), eBay's (NASDAQ:EBAY) StubHub has won a 6.5 year revenue-sharing deal to resell tickets for the New York Yankees.
- The move ends a long standoff between the two companies, which had previously been at odds over a price floor for tickets.
- Reports suggested the deal was worth around $100M, but a StubHub spokesman said the value of the agreement was "definitely not that high."
Tue, May 3, 4:22 PM
- Live Nation Entertainment (NYSE:LYV): Q1 EPS of -$0.29 beats by $0.02.
- Revenue of $1.21B (+8.0% Y/Y) beats by $30M.
- Shares +0.97%.
Mon, May 2, 5:35 PM
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Thu, Feb. 25, 4:25 PM
- Live Nation Entertainment (NYSE:LYV): Q4 EPS of -$0.39 misses by $0.05.
- Revenue of $1.74B (+10.8% Y/Y) beats by $80M.
Wed, Feb. 24, 5:35 PM
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Wed, Jan. 13, 4:58 PM
- Large-cap media stocks are set to surprise investors (positively) this earnings season, says Jefferies Group's John Janedis.
- Particularly considering the bear market in media, Q4 ad results were strong and Janedis expects that market will stay strong at least through Q2. “The stock market continues to dismiss the advertising demand on doubts related to sustainability, focusing more on sub trends and terminal values,” he says. M&A could be a catalyst in 2016 as well.
- His top picks for the sector include CBS (CBS -4.4%), Lions Gate (LGF -2.6%), Live Nation Entertainment (LYV -4.5%), Time Warner (TWX -0.6%), Twenty-First Century Fox (FOX -2.5%, FOXA -2.1%) and Viacom (VIA -1.9%, VIAB -2.2%).
Nov. 4, 2015, 4:28 PM
- Liberty Media (NASDAQ:LMCA) is down 0.5% after hours as its Q3 earnings saw revenue of $1.28B that beat expectations, and adjusted OIBDA that rose $81M, to $473M.
- Once again, the results were dominated by those of Sirius XM -- Liberty holds an increased stake of 60.7% of Sirius XM, with a stake that is 90% of Liberty Media's market cap -- though total revenue featured $315M in other revenues aside from subscriber revenues of $969M.
- The hedging period on its forward purchase of Live Nation shares is complete; when settled, its stake in Live Nation (NYSE:LYV) increases to 34.4%.
- From the beginning of August to the end of October, the company bought back 1M shares of its LMCK class at an average price of $36.87, for a total cost of $38.3M.
- Total debt was up $0.3B due to Sirius XM revolving borrowings. The company has $1.3B left on its repurchase authorization.
- Conference call to come at 4:30 p.m. ET.
Oct. 29, 2015, 4:31 PM
- Live Nation Entertainment (NYSE:LYV): Q3 EPS of $0.44 beats by $0.01.
- Revenue of $2.76B (+10.4% Y/Y) beats by $320M.
Oct. 12, 2015, 7:30 PM
- Live Nation Australia (LYV -1.3%) has entered a "major strategic partnership" with Aussie telecom leader Telstra (OTCPK:TLSYY -0.3%).
- The move is slightly bigger than the usual music sponsorship deal, the company says; Telstra customers will get 48-hour exclusive pre-sale access for tickets to all tours as well as exclusive content, merchandise and VIP packages.
- It'll be implemented through the Telstra Thanks loyalty program. The deal was put together by Mixitup Australia, a partnerships agency that is a joint venture of Live Nation Australia.
Sep. 9, 2015, 9:12 PM
- Live Nation Entertainment (NYSE:LYV) has named Carrie Davis chief communications officer.
- Davis comes from a post as VP of communications at Disney Interactive. She'll oversee internal and external communications for Live Nation, reporting to the CEO and COO.
- Prior to Disney, Davis garnered PR experience in Yahoo's site portfolio as well as at Hill+Knowlton and GolinHarris.
Aug. 10, 2015, 4:22 PM
- Live Nation Entertainment (NYSE:LYV): Q2 Adj. operating income of $141.7M
- Revenue of $1.76B (+5.4% Y/Y) beats by $60M.