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Live Nation Terminates $480M Acquisition of Mexican Promoter OCESA

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www.billboard.com

After the deal was put on hold earlier this month, the parties were were unable to agree to new terms. Live Nation has terminated a planned $480 million acquisition of Mexico's largest promoter OCESA Entretenimiento, but a future agreement is still possible, a source tells Billboard.

Monday (May 25), Live Nation officials notified Corporación Interamericana de Entretenimiento (CIE) and Grupo Televisa that Live Nation was terminating a stock purchase agreement to acquire a controlling interest in the Mexican concert company.

Live Nation chief executive Michael Rapino previously announced that the deal was being put on hold during a May 7 earnings call, saying company officials planned to "evaluate the impact of the global COVID-19 pandemic

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