UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 14, 2006
Live Nation, Inc.
(Exact name of registrant as specified in its charter)
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Delaware
(State or other jurisdiction
of incorporation)
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001-32601
(Commission File Number)
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20-3247759
(IRS Employer Identification No.) |
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9348 Civic Center Drive
Beverly Hills, CA
(Address of principal executive offices)
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90210
(Zip Code) |
Registrants telephone number, including area code: (310) 867-7000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy
the filing obligation of the registrant under any of the following provisions (see General
Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c)) |
Item 8.01 Other Events.
Live Nation, Inc. (the Company) was incorporated in Delaware on August 2, 2005 in
preparation for the contribution and transfer by Clear Channel Communications, Inc. (Clear
Channel) of substantially all of its entertainment assets and liabilities to the Company (the
Separation). The Company completed the Separation on December 21, 2005 and became a publicly
traded company on the New York Stock Exchange trading under the symbol LYV.
Following the Separation, the Company reorganized its business units and the way in which
these businesses are assessed and therefore changed its reportable segments, starting in 2006, to
Events, Venues and Sponsorship, and Digital Distribution. The Events segment principally involves
the promotion or production of live music shows, theatrical performances and specialized motor
sports events. The Venues and Sponsorship segment principally involves the operation of venues and
the sale of premium seats, national and local sponsorships and placement of advertising, including
signage and promotional programs, and naming of subscription series and venues. The Digital
Distribution segment principally involves the management of the Companys on-line and wireless
distribution activities, including the development of the Companys website and managing the
Companys in-house ticketing operations and third-party ticketing relationships. Included in the
Digital Distribution revenue are revenues from ticket rebates earned on tickets sold through phone,
outlet and internet, for events promoted by the Events segment. In addition, the Company has
operations in the sports representation and other businesses included in Other.
In order to provide interested parties with information to assist in meaningfully analyzing
the Companys future results, the Company has reclassified its 2005 financial information to
conform to the current segment presentation, and such unaudited quarterly and annual segment
financial information for 2005 under the new reporting segments is attached to this Current Report
on Form 8-K as Exhibit 99.1 and incorporated by reference herein.
The unaudited quarterly and annual segment financial information includes amounts prior to the
Separation that are comprised of businesses formerly included in the consolidated financial
statements and accounting records of Clear Channel using the historical basis of assets and
liabilities of Clear Channels entertainment business. The unaudited quarterly and annual segment
financial information included herein may not reflect what the Companys results of operations
would have been had the Company operated as a separate, stand-alone entity during the periods
presented or what the Companys results of operations will be in the future. The attached
unaudited quarterly and annual segment financial information should be read together with the
Companys consolidated and combined financial statements and accompanying notes as of and for the
year ended December 31, 2005.
Item 9.01 Financial Statements and Exhibits.
99.1 |
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Segment Financial Information for 2005 (unaudited). |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the
Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.
Date: July 14, 2006
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LIVE NATION, INC.
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By: |
/s/ Kathy Willard
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Kathy Willard |
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Executive Vice President and
Chief Accounting Officer |
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