Live Nation starts consent solicitation for Ticketmaster's 10¾% notes

By Jennifer Chiou

New York, April 22 - Live Nation Entertainment, Inc. announced the launch of a consent solicitation for the $287 million of 10¾% senior notes due 2016 of Ticketmaster Entertainment LLC and Ticketmaster Noteco, Inc.

Live Nation said it will pay a consent payment of $7.50 per $1,000 principal amount of notes for holders giving consent to proposed amendments to the note indenture.

The solicitation is set to end at 5 p.m. ET on April 30.

The company is seeking consents from holders of a majority of notes.

J.P. Morgan Securities Inc. is the solicitation agent (212 270-1494). i-Deal LLC is the information and tabulation agent (call collect 201 499-3500 or 877 746-3583).

Live Nation is a Beverly Hills, Calif.-based producer of live music concerts.

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