Live Nation blockbuster $480 million purchase of a controlling interest in Mexican promoter OCESA Entretenimiento has been put on hold because of the COVID-19 crisis, Live Nation chief executive Michael Rapino announced Thursday (May 7) on its first quarter earnings call.
The acquisition, which was first announced in July, was approved by Mexican regulators in in mid-April 2020, Rapino said, but the company is holding off on closing the transaction as it continues to “evaluate the impact of the global COVID-19 pandemic on OCESA’s business and operations” in Mexico and the rest of Latin America.
Live Nation officials are in discussions with owners CIE and Grupo Televisa, S.A.B. “regarding the timing and terms of the deal and have entered
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