Live Nation in Talks to Go Private

Live Nation Entertainment is in talks with Liberty Media, the company’s largest shareholder, to take the company private, Reuters reported Friday, citing a story in the New York Post. Private equity firm Thomas H Lee Partners could reportedly provide funding for the deal. Live Nation, a concert promoter and ticketing company, has a market value of roughly $1.87 billion.

(Reuters) – Live Nation Entertainment (LYV.N) is in talks with its largest shareholder Liberty Media (LINTA.O) on taking the concert promoter and ticketing company private, the New York Post reported, citing sources familiar with the matter.

Live Nation executive chairman Irving Azoff and media mogul John Malone of Liberty Media are in early stages of discussions and one of the options under consideration is a go private transaction, the paper said.

Private equity firm Thomas H Lee Partners could provide funding for the deal, the paper added.

Live Nation and Liberty media did not immediately respond to requests seeking comment.

Live Nation, whose sales were hit during the economic downturn as many fans could not afford ticket prices of concerts, saw a rise in both concerts and ticketing revenue in its latest first-quarter results.

The company has a market value of about $1.87 billion, according to Thomson Reuters data. (Reporting by Renju Jose in Bangalore; Editing by Hans Peters)