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 CBS-PR-090205080403.doc
February 05, 2009
CBS RADIO AND LIVE NATION PARTNER TO CREATE AND PRODUCE EXCLUSIVE RADIO EVENTS
ALLIANCE SPANS LIVE NATION’S 110 NORTH AMERICAN MUSIC VENUES AND CBS RADIO’S NATIONAL STATION FOOTPRINT
Live Nation (NYSE: LYV) announced
today that it has entered into a multi-year agreement with CBS RADIO to produce
select radio sponsored concerts in Live Nation venues throughout North America.
Combining Live Nation’s production expertise and CBS RADIO’s massive broadcast reach,
the agreement also calls for the two partners to work together to jointly
develop new live concerts and experiential events across multiple stations and
markets.
Live Nation owns, operates or manages more than 110 music venues across North America, drawing more than 28 million music fans
annually. CBS RADIO operates 137 radio stations across the country, a majority
of which are in the top 50 markets. Live Nation expects the agreement to bring
over 260,000 fans annually to its venues to enjoy CBS RADIO events, generating
additional sponsorship, ticket sales and ancillary venue revenue.
"Our alliance with CBS Radio is another example of our focus on
leveraging our unmatched portfolio of live venues across the nation to drive
profitable revenue streams," said Jason Garner, Chief Executive Officer of
Global Music for Live Nation. "We have worked closely with CBS Radio as a
marketing partner in the promotion of our 12,000 annual North American
concerts. This deal deepens that relationship while increasing the utilization
of our live entertainment venues in a risk-averse manner."
CBS RADIO President and Chief Executive Officer Dan Mason commented:
"For many years we have enjoyed a very successful relationship with Live
Nation helping us grow our radio shows across the country into some of the
biggest events of the year. With their national platform of venues and their
team of talented promoters and marketers, we feel we will be able to expand the
breadth of radio shows we offer on-site, on-air and online in a substantive way
over the course of this agreement."
ABOUT LIVE NATION:
Live Nation's
mission is to maximize the live concert experience. Our core business is
producing, marketing and selling live concerts for artists via our global
concert pipe. Live Nation is the largest producer of live concerts in the
world, annually producing over 16,000 concerts for 1,500 artists in 57
countries. The company sells over 45 million concert tickets a year and expects
to drive over 60 million unique visitors to LiveNation.com in 2008. Live Nation
is transforming the concert business by expanding its concert platform into
ticketing and building the industry's first artist-to-fan vertically integrated
concert platform. Headquartered in Los
Angeles, California,
Live Nation is listed on the New York Stock Exchange, trading under the symbol
"LYV." Additional information about the company can be found at www.livenation.com/investors.
ABOUT CBS
RADIO
CBS RADIO, one of the largest major-market
operators in the United
States with stations covering news, sports,
talk, rock, oldies, country, adult contemporary and urban formats, among
others, offers audiences an enhanced and customized listening experience
through the combination of on-air, online and new media platforms. CBS RADIO
operates 137 radio stations throughout the nation’s top 50 markets and
broadcasts play-by-play coverage of 26 of the country’s leading professional
sports franchises. CBS RADIO also has embraced interactive programming through
the use of streaming, HD Radio, podcasts and mobile messaging. The division
maintains an agreement with AOL Radio through which CBS RADIO powers AOL Radio
and distributes its stations to its network of listeners. Home to the nation’s
most listened to news (1010 WINS), sports (WFAN-AM), rock (KROQ-FM) and country
(WUSN-FM) stations, CBS RADIO is a division of CBS Corporation. For more
information on CBS RADIO, please visit www.cbsradio.com.
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MEDIA CONTACTS
Karen L. Mateo
Vice President, Communications
(212) 649 9639
Allison Mandara
Press Representative
(212) 649 9606
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