UPDATE: Live Nation Board Authorizes Repurchase Plan

(CelebrityAccess MediaWire) —

The board of directors of newly formed Live Nation, formerly Clear Channel Entertainment, authorized a $150 million share repurchase program effective immediately. The repurchase program is authorized through December 31, 2006.

Live Nation will base its decisions on amounts of repurchases and their timing on such factors as the stock price, general economic and market conditions and the company's debt levels. The repurchase program may be suspended or discontinued at any time. Shares of stock repurchased under the plan will be held as treasury shares.–Bob Grossweiner and Jane Cohen