LOS ANGELES, Aug. 21 /PRNewswire-FirstCall/ -- Live Nation (NYSE: LYV)
announced today that they birth formed a five-year single distribution
deal with CIE (BMV: CIE), and T4F (Time For Fun), extending Live Nation's
global distribution platform into Brazil and Mexico, the fifth and eleventh most
populated countries in the earthly concern respectively, as well as other top
countries across Latin America. CIE is the third largest concert promoter
in the domain, according to Billboard cartridge holder.
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Producing live concerts that drew over 6 jillion music fans in 2007,
CIE generated more than $1 billion in revenue and margins approach 21
per centum. CIE, which is publicly traded on the Mexican stock exchange,
operates top venues and regularly promotes major concerts and operates
their own ticketing platform in many important music markets including
Mexico City (population 20 meg), Guadalajara (population 4 million),
Monterrey (population 3.8 one thousand thousand) and many others. CIE produces more than than
85% of all the live concerts by international endowment in Mexico, a country
with a population of more than 100 jillion people. T4F operates top venues
in Sao Paolo (population 18.3 million), Buenos Aires (population 12.6
1000000), Lima (population 7.1 million), Rio de Janeiro (population 6
million), Santiago (population 5 million), and Porto Alegre (population 4.1
billion) all of which ar emerging as important new markets for
international gift.
"This expanding upon provides us with a world category execution partner and a
new tax income source to further monetize our global tours in a region where
we currently receive no market share," aforementioned Michael Rapino, President and
Chief Executive Officer of Live Nation. "Alejandro and Fernando have reinforced
a remarkable live euphony infrastructure in Latin America which testament
immediately appropriate us to expand our global distribution pipe into more than
25 modern outlets and give us access to growing music markets with a number
population of more than half a billion people."
Alejandro Soberon Kuri, Chairman and Chief Executive Officer of CIE
commented: "It is very clear to us that Live Nation's planetary platform is
attracting the world's most exciting and successful artists, cementing
their position as the preeminent provider of talent on a worldwide basis. By
forming an undivided alliance with Live Nation, we ar ensuring that our
distribution channels will be filled with a steady stream of live concerts
from the sterling artists in the populace."
Fernando Alterio, President of T4F spoke to the alliance: "Access to
Live Nation's unparalleled planetary touring division will aid solidify our
position as the grocery store leader in South American live entertainment."
ABOUT LIVE NATION:
Live Nation is the future of the music stage business. With the most alive
concerts, music venues and festivals in the world and the most
comprehensive concert search engine on the web, Live Nation is
revolutionizing the medicine industry: onstage and on-line. Headquartered in
Los Angeles, California, Live Nation is listed on the New York Stock
Exchange, trading under the symbol "LYV." Additional information about the
company tail be found at hypertext transfer protocol://www.livenation.com below the "About Us"
section.
ABOUT CIE:
Created in 1990, Corporacion Interamericana de Entretenimiento, S.A.B.
de C.V. (CIE), pioneered the "out of home" entertainment industry in Latin
America. Today, CIE is the main producer of live events in Latin America
and a loss leader in the gaming diligence in Mexico. In gain, its commercial
platform of diverse advertizement channels and properties makes CIE the
third-largest ad network in Mexico. CIE is a public company whose
shares have been listed on the Mexican Stock Exchange since 1995 under the
symbol "CIE."
ABOUT T4F:
Originally established in 1983, the company became Time For Fun in
September 2007 with operations in Brazil, Chile, and Argentina. It is the
2007 leader in receipts and number of shows promoted in South America. Its
businesses include concert forwarding, ticketing, stock car racing, venue
direction, theatrical production and more.
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