LOS ANGELES, Jan. 31, 2011 /PRNewswire/ — Live Nation Entertainment, Inc. “Live Nation” (NYSE: LYV) and Maple Leaf Sports & Entertainment Ltd. “MLSE” announced today that the two companies have formed a strategic partnership aimed at maximizing their complementary mediums and resources to drive entertainment opportunities across Ontario.
“The Greater Toronto Area is the third highest grossing event market in North America and this partnership provides an unparalleled venue footprint,” said Michael Rapino, President and Chief Executive Officer of Live Nation. “Combining MLSE’s strong venue expertise and marketing relationships with our entertainment content makes them an ideal partner for Live Nation. We look forward to partnering with MLSE and building a truly fan focused experience in Ontario.”
As part of the new alliance, MLSE will sell and service Live Nation’s sponsorships and premium ticket sales for its properties, which includes the Molson Canadian Amphitheatre.
Rapino added that the partnership will drive new marketing and sales opportunities, while benefiting from operating cost efficiencies.
MLSE and Live Nation’s respective entertainment venues including Air Canada Centre, Ricoh Coliseum and the Molson Canadian Amphitheatre will continue to be marketed to and open for independent concert promoters and event organizers.
“This is an exciting partnership that will create tremendous synergies for both companies and further boost Ontario’s position as a premier destination for live entertainment globally,” said Richard Peddie, President and Chief Executive Officer of MLSE. “We look forward to further developing our partnership with Live Nation and to growing our live entertainment assets in Canada in an effort to deliver exceptional fan value and a great experience for artists year-round.”
Peddie added that as part of the alliance there are also preliminary plans for Live Nation and MLSE to develop a House of Blues concert club in Downtown Toronto that would support showcasing the very best in live entertainment.
About Maple Leaf Sports & Entertainment Ltd.
Maple Leaf Sports & Entertainment (MLSE) is one of the world’s premier sports and entertainment companies that owns the Toronto Maple Leafs (NHL), the Toronto Raptors (NBA), the Toronto Marlies (AHL), Toronto FC (MLS), Air Canada Centre, Maple Leaf Square and three digital channels — Leafs TV, NBA TV Canada and GOLTV Canada. MLSE has also invested in four of Toronto‘s sports facilities — Ricoh Coliseum, home of the Marlies, BMO Field, home of Toronto FC, Lamport Stadium, and the MasterCard Centre for Hockey Excellence, the practice facility for the Maple Leafs and Marlies. MLSE operates and manages events at Ricoh Coliseum and BMO Field.
About Live Nation Entertainment, Inc.
Live Nation Entertainment (NYSE-LYV) is the largest live entertainment company in the world: connecting 200 million fans to 100,000 events in over 40 countries which has made Ticketmaster.com the #3 eCommerce website in the world. For additional information, visit www.livenation.com/investors.