Music Business

Live Nation Chairman Irving Azoff to Step Down

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Irving AzoffLast year, we saw Nigeria’s Efe Omoregbe attempt a United Sounds of Africa USA tour that never quite took off. Omoregbe spent more time drumming up attention for Live Nation than attending to some of the basic logistics of the events which would have helped make the tour a success, including scheduling dates. In any event, here we are in 2013 and you all should know Live Nation’s Chairman, Irving Azoff, one of the most respected names in the music industry is saying goodbye to his position, effective immediately. It’s not a bad thing. He is moving to greener pastures somewhere else.

AML artists be sure to watch the clip below. Azoff provides some great tips for many of you trying to break into the US market. It’s the same thing I have been stressing. For Nigerian and other African artists based in the USA, really do get your hustles on starting with your college campuses and college radio stations and that of your friends.

“Irving Azoff, chairman of Live Nation Entertainment and no. 1 on Billboard’s Power 100 list earlier this year, will leave the company effective immediately, Billboard has confirmed.

In conjunction with this change, Liberty Media Corporation has purchased 1.7 million shares of Live Nation stock from Azoff, increasing its stake to 26.4%, according to a press release.

 

According to the Wall Street Journal, Azoff is expected soon to join the board of Starz, the cable-television company owned by Liberty Media Corp., which also is Live Nation’s biggest shareholder. Liberty is expected to spin Starz off in early 2013.

Azoff had about 18 months left on his contract and few insiders expected him to re-up for another five years in 2014. On December 28, Live Nation CEO Michael Rapino’s contract, which was also to expire in 2014, was renewed through 2019.

“After successfully overseeing the integration of Live Nation and Ticketmaster over the past two years, my job here is done. We put together the leading company across concert promotion, ticketing, sponsorship and artist management and delivered the great results promised by the merger,” said Mr. Azoff.  “I especially enjoyed my time with my partner Michael Rapino, and he has demonstrated the ability to lead this company from now on.  I’m looking forward to returning to the entrepreneurial world and continuing to work with all my friends and colleagues at Live Nation.”

“Irving has been a valuable partner and friend for the past few years,” said Mr. Rapino, President and CEO of Live Nation Entertainment.  “We will certainly miss him and we thank him for his many contributions in building Live Nation to the global company it is today, entertaining 50 million fans and selling 200 million tickets in more than 40 countries around the world.  I look forward to continuing to work with Irving on his artists’ tours for years to come. . .” – Billboard has the full story.

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Africa Music Law™

AFRICA MUSIC LAW™ (AML) is a pioneering music business and entertainment law blog and podcast show by Fashion and Entertainment Lawyer Ms. Uduak Oduok empowering the African artist and Africa's rapidly evolving entertainment industry through brilliant music business and entertainment law commentary and analysis, industry news, and exclusive interviews.

Credited for several firsts in the fashion and entertainment industry, Ms. Uduak is also a Partner and Co-Founder of Ebitu Law Group, P.C. where she handles her law firm’s intellectual property law, media, business, fashion, and entertainment law practice areas. She has litigated a wide variety of cases in California courts and handled a variety of entertainment deals for clients in the USA, Africa, and Asia.

Her work and contributions to the creative industry have been recognized by numerous organizations including the National Bar Association, The American University School of Law and featured in prestigious legal publications in the USA including ABA Journal and The California Lawyer Magazine. She is also an Adjunct Professor at the prestigious Academy of Arts University in San Francisco.
For legal representation inquiries, please email (uduak@ebitulawgrp.com). For blog related inquiries i.e. advertising, licensing, or guest interview requests, please email (africamusiclaw@gmail.com). Thank you for visiting Africa Music Law™.

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