Live Nation Entertainment's general counsel Michael Rowles sold 1,084 shares for $197,039 in a non-discretionary transaction to cover tax liabilities from vesting restricted stock, leaving him with 200,806 shares worth $36.5 million. The filing comes as the company reported second-quarter revenue rose 9% to $7.7 billion, drew nearly 49 million fans, and booked a record $6.4 billion in tickets for future shows. A Department of Justice monopoly case settled in March without a Ticketmaster breakup, but a coalition of states won a jury verdict in April and is pursuing damages over alleged overcharges of $1.72 per ticket. Live Nation's stock has recovered from late-year lows to hit record highs in the past month.
Live Nation Entertainment IncRecord fan attendance and $6.4B in future ticket sales indicate strong demand for live events.
