LOS ANGELES (CelebrityAccess MediaWire) — Live Nation, the world's leading live entertainment company, announced today that it has sold its SFX Sports Group, Europe to Wasserman Media Group. The deal closed on Thursday,
"The sale of this division is consistent with our strategy of divesting our sports properties in order to focus on our core businesses," said Michael Rapino, Live Nation's Chief Executive Officer.
Earlier this summer Live Nation announced that it sold several of its other sports related businesses, including SFX Television and SFX Events, as well as its Baseball, Tennis, Golf and Football divisions.
Live Nation is the world's leading live entertainment company, annually connecting more than 67 million fans with performers at over 33,000 events. They are the largest producer of live concerts in the world, the second-largest venue management company and have a rapidly growing online presence. Live Nation regularly produces tours for the biggest superstars in the business, including The Rolling Stones, Madonna, U2 and Coldplay. Globally, they own, operate and/or have booking rights for more than 170 venues, including the House of Blues-branded music venues and prestigious locations such as San Francisco's Fillmore Auditorium, Nikon at Jones Beach in New York and London's Apollo Theatre and Wembley Arena. Live Nation's websites collectively are the second most popular entertainment event websites in the United States, according to Nielsen//NetRatings