Clear Channel gets out of the concert biz

[scritti]

from insideradio.com

Clear Channel springs several major surprises this morning – it’s completely spinning off its live entertainment division, and doing an IPO for 10% of Clear Channel Outdoor.
The spin of live entertainment promoter CCE means it won’t be subject to the kind of heavy regulation it lives with now as part of Clear Channel Communications, and can operate more nimbly. CC has more surprises for Wall Street – a $3.00 per share special dividend and a 50% increase in its regular quarterly dividend. Mark Mays says the strategic moves should “unlock the considerable value of our company” and let the market fairly value each of its divisions

translation:higher ticket costs

[BSmack]

from insideradio.com

Clear Channel springs several major surprises this morning – it’s completely spinning off its live entertainment division, and doing an IPO for 10% of Clear Channel Outdoor.
The spin of live entertainment promoter CCE means it won’t be subject to the kind of heavy regulation it lives with now as part of Clear Channel Communications, and can operate more nimbly. CC has more surprises for Wall Street – a $3.00 per share special dividend and a 50% increase in its regular quarterly dividend. Mark Mays says the strategic moves should “unlock the considerable value of our company” and let the market fairly value each of its divisions

translation:higher ticket costs

Translation: I still won't be going to large concerts.

[Bizzarofelice]

if Clear Channel was involved, chances are I'd have little interest. I ain't a clear channel demographic. sux for Tim McGraw fan.

[Roofer]

The only way I can see this as having an impact to ticket prices is that it reduces (back to nill) the amount of competition Ticketbastard has. I sought Audioslave tickets a few weeks back, and the pre-sale was being handled by Clear Channel. After waiting 9 minutes in queue, only to end up with the notification that "no tickets matched your request....please try again", I came to the conclussion that CC was nothing more than TM without the reputation/history.

Honestly I can't see this meaning jack shit in the grand scheme of things.

[The Assassin]

from insideradio.com

Clear Channel springs several major surprises this morning – it’s completely spinning off its live entertainment division, and doing an IPO for 10% of Clear Channel Outdoor.
The spin of live entertainment promoter CCE means it won’t be subject to the kind of heavy regulation it lives with now as part of Clear Channel Communications, and can operate more nimbly. CC has more surprises for Wall Street – a $3.00 per share special dividend and a 50% increase in its regular quarterly dividend. Mark Mays says the strategic moves should “unlock the considerable value of our company” and let the market fairly value each of its divisions

translation:higher ticket costs

Clear channel is a rip off typical corporate machine.

signed,

Ticketmaster

[Funkywhiteboy]

Clear Channel springs several major surprises this morning – it’s completely spinning off its live entertainment division, and doing an IPO for 10% of Clear Channel Outdoor.
The spin of live entertainment promoter CCE means it won’t be subject to the kind of heavy regulation it lives with now as part of Clear Channel Communications, and can operate more nimbly. CC has more surprises for Wall Street – a $3.00 per share special dividend and a 50% increase in its regular quarterly dividend. Mark Mays says the strategic moves should “unlock the considerable value of our company” and let the market fairly value each of its divisions

It doesn't sound to me that CC's getting out of the biz.
Spinning off the concert division is simply a clever way of making the new company
seem "independent".
I wouldn't be surprised to see a lot of the same names on the boards of both. :roll:

[scritti]

anything is possible,it was all about "synergy"(insert Jem resets here) between the CCE, the billboards and the stations. what happened was that CC became the big elephant in the room the music biz didn't want to notice.

CCE decided to go back to the names of regional promoters and what sealed the deal was last year when everyone said FU to their prices for their concerts.