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Liberty man appointed chairman of Live Nation
By Chris Cooke | Published on Friday 15 March 2013
Live Nation has announced the appointment of a new Chairman of the board in the form of Greg Maffei, who is also CEO of Liberty Media, the biggest single shareholder in the live music, artist management and ticketing group.
Liberty Media has been quietly increasing its stake in Live Nation, and its influence in the board room, for a while now, with some speculating that the media group might attempt a full takeover of the live entertainment company at some point. It is Liberty Media which seemingly snapped up the Madison Square Garden Company’s 2% of Live Nation earlier this week.
Maffei takes over the Chairman role from Irving Azoff, the former co-boss of Live Nation who, before exiting somewhat suddenly at the end of last year, chaired the board in addition to his executive role at the business. Maffei will be a Non-Executive Chairman, leading in the boardroom but with no hands-on role in the company.
Confirming the appointment, Live Nation CEO Michael Rapino told reporters: “Greg brings years of experience and business acumen that will continue to be a valuable asset as our team executes on the three-year plan, driving profitability and shareholder value”.
