"Over the past year we have worked hard to strengthen our presence in the Florida market, and this agreement is a major step in that expansion," said Neil Jacobsen, President of Live Nation Florida. "This deal represents the union of two of our state’s major live music players. Jon Stoll was a legend in the Florida music business and we are honored that Lori has agreed to become part of our team and continue the Stoll family tradition in Florida."
The acquisition, when completed, will include the leases for the Pompano Beach Amphitheatre and Grounds in Pompano Beach (capacity 2,900) and Mizner Park Amphitheater in Boca Raton (capacity 3,500), two important Southern Florida music venues. The additions will fill important niches in Live Nation’s Florida venue portfolio which already includes the House of Blues in Orlando (capacity 2,100), the Ford Amphitheatre in Tampa (capacity 19,000), Cruzan Amphitheatre in West Palm Beach (capacity 19,000) and the newly-opened Fillmore Miami Beach at the Jackie Gleason Theatre in Miami Beach (capacity 2,100). The acquisition will also add two venues in the important mid-sized venue category in one of the top twenty markets in the United States.
"Jon spent his life creating special music events for Florida music fans," said Ms. Stoll. "I am pleased to have found partners at Live Nation who share that commitment to excellence and to have reached a deal that provides my family with stability and the opportunity to continue what Jon built."
ABOUT LIVE NATION:
Live Nation is the future of the music business. With the most live concerts, music venues and festivals in the world and the most comprehensive concert search engine on the web, Live Nation is revolutionizing the music industry: onstage and online. 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 http://www.livenation.com/ under the "About Us" section.
First Call Analyst:
FCMN Contact:
SOURCE: Live Nation