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Live Nation CEO Michael Rapino Gives up Salary, Top Execs Take Pay Cuts as Company Tightens Belt

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By Jem Aswad Senior Music Editor In the wake of the steep challenges the live-entertainment industry faces due to the coronavirus pandemic, Live Nation CEO Michael Rapino will forego his 2020 salary and senior executives will see their salaries reduced by up to 50%, amid other cost-cutting moves and an amendment to its existing credit agreement that includes a new $120 million revolving loan facility. “Given the uncertainty associated with the duration of current conditions globally, the company has launched a number of initiatives to reduce fixed costs and conserve cash,” the company said in a release accompanying a new SEC filing. “As part of these cost reduction efforts, the company will implement salary reductions, with salaries for

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