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hollywoodreporter.com

07.07.2020 / 16:49

Live Nation CEO to Forgo $3 Million Base Salary, Execs Take Pay Cuts

A month after suspending all tours amid the novel coronavirus pandemic, Live Nation's CEO will be forgoing his annual base salary and other executives will be taking pay cuts, the events promoter disclosed. Additionally, the company has amended its credit agreement to get access to up to an additional $120 million to $150 million as the concert industry has shuttered across the globe.

Michael Rapino Joe Berchtold Coronavirus pandemic president concert

07.07.2020 / 16:47

Live Nation CEO to Forego Salary as Company Taps Cost-Cutting Measures

With the live events industry facing an uncertain future, Live Nation president/CEO Michael Rapino will forego his salary, part of a variety of cost-cutting measures the events promoter is implementing to save $500 million by the end of 2020. Live Nation will cut salaries for senior executives by up to 50%. Rapino's pay will go from $3 million to zero, president

Michael Rapino Joe Berchtold Entertainment show 2020 concert Company

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