Live Nation (fka Clear Channel concerts..history on Wikipedia here) is buying a majority stake in Musictoday, which runs fan clubs, websites, online stores and other services for hundreds of acts, including the Rolling Stones, Kenny Chesney and Eminem. Terms of the deal weren’t disclosed.
Musictoday, whch is based in Charlottesville, Va., last year had gross sales of more than $100 million. LiveNation owns 153 major concert venues..this deal will serve to extend its role as a critical middleman in the relationship between fans and the artists.
Live Nation already held a minority position of undisclosed size in Musictoday, but both companies said that relationship didn’t involve the kind of coordination between the two now being planned.
For some background on Musictoday, read this 2004 story in iMediaconnection: “Connecting Artists and Fans Online“.
In early July, Live Nation agreed to buy House of Blues, which operates a chain of live music venues, for $350 million in cash.
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