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LIVE NATION ENTERTAINMENT, INC.

(LYV)
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Live Nation Entertainment : Expands Operations In Western Australia Through Strategic Acquisition Of Mellen Events

07/15/2021 | 08:35pm EDT

Live Nation, the global leader in live entertainment, today announced a strategic acquisition of Western Australia's largest locally based touring company Mellen Events, designed to position the company for further growth across Australasia. The two companies will deliver a shared commitment to bring more events and the biggest international and domestic acts to the region, with Mellen Events leveraging Live Nation's global infrastructure and resources.

The partnership will also deliver an operating office in Perth for Live Nation, which expands on the company's commitment to have an on-ground presence in all major cities in the region and the ability to connect with operations across Australia and Asia, including Hong Kong, Singapore, Malaysia, and Thailand. The deal will also see the joint operation of two greenfield sites, Kings Park in Perth and Nikola Estate in the Swan Valley.

'Mellen Events have built up a really successful business and reputation for reinventing spaces in Perth and WA as world-class venue sites, attracting top talent. By welcoming Brad and his team into the fold we will provide them with the resources to expand their local business, giving us the ability to produce shows with even greater local knowledge and together we'll work on a shared commitment to bring a greater volume and variety of shows to Western Australia,' said Live Nation Asia Pacific President, Roger Field.

'By joining forces with the global leaders in entertainment, Live Nation, we can ensure our long-term vision for live events and continue to grow our business here in WA and nationally. This partnership will allow us to attract the very best acts and continue to deliver a unique experience for West Australian music fans,' said Brad Mellen, CEO, Mellen Events.

Since 1996, Mellen Events, headed up by live entertainment veteran Brad Mellen has been committed to delivering the very best in concerts and events in Western Australia. As Perth's largest professional touring concert promotion and event development company, the team has delivered some of the biggest and most unique events in the country including the award winning Ord Valley Muster, Kaleidoscope Festival of light, art and music with the City of Joondalup, and the annual youth festival Future Music Festival, while also working with some of the biggest acts in the world including Kylie Minogue, Bryan Adams, Bryan Ferry, James Blunt, Burt Bacharach, John Farnham, Paul Kelly, The Beach Boys and Lorde.

About Live Nation Entertainment
Live Nation Entertainment (NYSE: LYV) is the world's leading live entertainment company comprised of global market leaders: Ticketmaster, Live Nation Concerts, and Live Nation Media & Sponsorship. For additional information, visit livenationentertainment.com.


For Media Enquiries, contact:

Jackie Antas
VP, Communications
Live Nation, Asia Pacific
jackie.antas@livenation.com.au

Read more about Corporate

Disclaimer

Live Nation Entertainment Inc. published this content on 16 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 July 2021 00:34:10 UTC.


ę Publicnow 2021
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Financials (USD)
Sales 2021 4 873 M - -
Net income 2021 -637 M - -
Net Debt 2021 2 515 M - -
P/E ratio 2021 -29,3x
Yield 2021 -
Capitalization 18 734 M 18 734 M -
EV / Sales 2021 4,36x
EV / Sales 2022 1,65x
Nbr of Employees 8 200
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Number of Analysts 15
Last Close Price 85,22 $
Average target price 93,92 $
Spread / Average Target 10,2%
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Michael Rapino Co-President, Chief Executive Officer & Director
Joe Berchtold Co-President
Gregory Ben Maffei Non-Executive Chairman
Jackie Beato Executive Vice President-Operations
Jeffrey T. Hinson Independent Director
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