Live Nation Artist Mega-Deals Include Equity Stakes
Public filings with the SEC have revealed that Live Nation not only provided mega-bucks to Madonna, U2, Jay-Z and others to secure the 360 deals, but also offered each artist an equity stake in the company.
Madonna secured 1.7 million shares, Jay-Z snagged 775,000, and U2 scored 1.56 million, which amounts to a little over 2% of Live Nation. Shakira and Nickelback were left out of the action. No word yet on how many much of Madonna’s stake Guy Richie has demanded.
The equity stakes were substantial at the time, however, like the rest of Wall Street, Live Nation’s (LYV) share price has dropped to $11.54 from a yearly high of $20.74.