Live Nation has terminated a planned US$480 million acquisition of Mexico’s largest promoter OCESA Entretenimiento, but a future agreement is still possible, a source told Billboard.
Monday, May 25, Live Nation officials notified Corporación Interamericana de Entretenimiento (CIE) and Grupo Televisa that Live Nation was terminating a stock purchase agreement to acquire a controlling interest in the Mexican concert company.
Live Nation CEO Michael Rapino previously announced that the deal was being put on hold during a May 7 earnings call, saying company officials planned to “evaluate the impact of the global COVID-19 pandemic on OCESA’s business and operations” in Mexico and the rest of Latin America.
Live Nation and OCESA’s owners entered into a separate standstill agreement to discuss modifications to the acquisition, but were unable to agree to new purchase terms before the standstill agreement expired.
Full Content: Billboard
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Biden Administration Supports Antitrust Suit Against FIFA
Mar 18, 2024 by
CPI
Apple in Talks to Incorporate Google’s Gemini AI Amid Antitrust Scrutiny
Mar 18, 2024 by
CPI
Appeals Court Revives Regeneron’s Antitrust Lawsuit Against Novartis Over Vision Treatment
Mar 18, 2024 by
CPI
Apple Responds to Criticism Over EU’s Digital Markets Act Compliance
Mar 18, 2024 by
CPI
Turkey Imposes Interim Measures on Meta Platforms
Mar 18, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Pricing Algorithms
Feb 28, 2024 by
CPI
Pricing Algorithms and Antitrust Enforcement: Sandboxes to the Rescue?
Feb 28, 2024 by
CPI
AI, Algorithmic Pricing, and Collusion
Feb 28, 2024 by
CPI
Competition & Collusion in a World of Algorithmic Pricing: Antitrust Risks & Enforcement Trends
Feb 28, 2024 by
CPI
Pricing Algorithms in Antitrust’s Sights?
Feb 28, 2024 by
CPI