Live Nation Acquires Merchandise Licensing Firm Signatures Network for $79 Million

Live Nation, (NYSE: LYV) the concert promoter that recently made waves by signing Madonna to a record deal, is acquiring Signatures Network Inc., a music merchandise management company, for $79 million. Signatures Network holds marketing and licensing rights for over 150 artists, including The Beatles, U2 and Bruce Springsteen. In addition to merchandise management, the company offers services to help musicians manage their digital presence. It also provides artists with free video hosting and album promotion through Apple.com. Artists that have used the company for such services include Madonna, KISS and Britney Spears. Live Nation believes the deal will prove a key component in building a business around touring artists. Signatures Network CEO Dell Furano will join Live Nation upon completion, which is expected this year. Release.

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