The 1,000-capacity venue in Sacramento, will become House of Blues' third venue in California
Sign up for IQ Index
The latest industry news to your inbox.
No change for 2016 at the world's largest live entertainment group as every director retains their seat – albeit some with reduced majorities
By Jon Chapple on 16 Jun 2016
Live Nation Entertainment’s shareholders reelected its 2015 board of directors at its 2016 annual meeting on Tuesday.
Liberty Media chief development officer Mark Carleton, Wood River Ventures and Expedia director Jonathan Dolgen, William Morris Endeavour CEO Ari Emanuel, Balquita Partners managing general partner Ted Enloe, YouPlus Media president Jeff Hinson, Beats founder Jimmy Iovine, Microsoft vice-president of business development Peggy Johnson, Amdocs, Catch Media and Media Rights Capital director Jim Kahan, Liberty Media CEO and president Greg Maffei, Running M Capital president Randall Mays, Live Nation president and CEO Michael Rapino and IMG chief content officer Mark Shapiro will once again serve as directors for the 2016 financial year.
With the exception of Carleton, Enloe, Maffei and Shapiro, every director saw a fall in ‘for’ votes, with Dolgen, Emanuel, Hinson, Iovine, Johnson, Kahan and Rapino all experiencing an increase in ‘againsts’ from the hundreds of thousands to tens of millions.
Despite this, every director was elected with a comfortable majority: While Rapino’s ‘no’ votes increased from 846,432 to 33,649,100, for example, the CEO could still count on the support of 151 million shares.
The full results of the election are available in Live Nation’s latest 8-K filing with the US Securities and Exchange Commission (SEC).
Live Nation published its quarter-one 2016 (Q1) results – which showed double-digit revenue growth driven by an abundance of high-profile tours and a boom in secondary ticketing – on 3 May.
Liberty Media, which owns a 26% stake in Live Nation, published its own a week later, showing a 12% revenue increase to $1.2 billion.
Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news.