LOS ANGELES, May 20, 2013 /PRNewswire/ -- Live Nation Entertainment, Inc. (NYSE: LYV) and Lushington Entertainments Pte Ltd today announced that they have formed a joint venture, Live Nation Lushington, to promote live concerts in Hong Kong and Singapore.
Hong Kong and Singapore are the two most established touring markets in Asia, outside of Japan. Lushington has been operating in the region since 1990, when it was established to promote Eric Clapton's first Asian tour. Live Nation commenced operations in Hong Kong and Singapore in 2005, and last year promoted seven sell out Lady Gaga performances in Hong Kong (four) and Singapore (three). In 2012, the two companies presented approximately 70 shows and sold 280,000 tickets across the two markets.
Michael Rapino, Live Nation CEO and President said: "Live Nation continues to enhance and expand our global footprint. Our new joint venture with Lushington will increase our presence in Asia and enable us to bring more live entertainment to more fans in Hong Kong, Singapore and throughout the region."
Alan Ridgeway, Live Nation President of International & Emerging Markets, said: "I am delighted that we are joining forces with Lushington in these two important touring markets. Michael Roche will be an invaluable addition to our Asian network and I look forward to working with him and both of our teams to build our business."Michael Roche, Managing Director, Lushington Entertainment said: "After 23 years of promoting in the region, we found a great partner in Live Nation. We share a common vision and work style centered on hard work, integrity and dedication to bring the very best international and emerging stars to Hong Kong and Singapore." Live Nation and Lushington have worked closely together, bringing Sting, Roxette and Koren pop sensation, Big Bang to tens of thousands of fans last year alone. Live Nation Lushington will be headed by Michael Roche and the first event to be promoted by the joint venture will be Linkin Park on 15 August in Hong Kong. Live Nation currently operates five offices throughout Asia, including Hong Kong, Beijing, Shanghai, Seoul and Tokyo. About Live Nation Entertainment:Live Nation Entertainment is the world's leading live entertainment company comprised of four market leaders: Ticketmaster.com, Live Nation Concerts, Artist Nation Management and Live Nation Media/Sponsorship. For additional information, visit www.livenation.com/investors . About Lushington Entertainment:Lushington Entertainments Pte Ltd was formed in 1990 and is a privately owned company of Mr. Ong Beng Seng, one of Asia's foremost and innovative business leaders. Lushington is an affiliate of the publicly held HPL group of companies. In 2008, Lushington joined forces with one of its affiliate motor companies, Komoco, to form Singapore GP Pte Ltd, which hosts the Formula 1 Singapore Grand Prix. For additional information visit: www.lushington.com. SOURCE Live Nation Entertainment
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts