Live Nation Entertainment has bought the remaining 25% stake in Front Line Management Group that it did not already own. The company paid $116.2 million in cash and stock for the deal, after which Live Nation will consolidate the entity for U.S. federal income tax purposes.
The California-based live entertainment company acquired equity interests from Irving Azoff and Madison Square Garden. Azoff has been named Chairman of the board, replacing John Malone, who has stepped down from the role.
Click here for the release from PR Newswire.