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Live Nation Entertainment Acquires Remaining Equity Stake in Front Line Management Group

LOS ANGELES Feb. 7, 2011 $116.2 million

Irving Azoff Madison Square Garden $56.5 million $59.7 million Madison Square Garden

Michael Rapino $20 million

John Malone Greg Maffei

John Malone Greg Maffei Irving Azoff

$18.8 million $57.7 million

"Liberty’s investment in Live Nation will enable us to further strengthen our balance sheet and provide us with additional financial flexibility as we execute our growth strategy," added Mr. Rapino.

About Live Nation Entertainment:

www.livenation.com/investors

About Front Line Management Group:

Jimmy Buffett Neil Diamond Christina Aguilera Kenny Chesney Fleetwood Mac

Forward-Looking Statements

Certain statements in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.  Such forward-looking statements include, but are not limited to, statements regarding consolidation of Front Line for U.S. federal income tax purposes, cash tax savings, operating synergies, the potential increase to free cash flow and the issuance of additional shares to Liberty.  Live Nation wishes to caution you that there are some known and unknown factors that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements, including, but not limited to, operational challenges in achieving strategic objectives and executing on the company’s plans, the risk that the company’s markets do not evolve as anticipated, the potential impact of the economic slowdown and operational challenges associated with selling tickets and staging events.

Live Nation refers you to the documents it files from time to time with the U.S. Securities and Exchange Commission, or SEC, specifically the section titled "Item 1A. Risk Factors" of the company’s most recent Annual Report filed on Form 10-K and Quarterly Reports on Form 10-Q and its Current Reports on Form 8-K, which contain and identify other important factors that could cause actual results to differ materially from those contained in the company’s projections or forward-looking statements.  You are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date on which they are made.  All subsequent written and oral forward-looking statements by or concerning the company are expressly qualified in their entirety by the cautionary statements above.  The company does not undertake any obligation to publicly update or revise any forward-looking statements because of new information, future events or otherwise.

Additional Information About the Proposed Issuance of the Additional Shares to Liberty and Where to Find It

http://www.sec.gov www.livenation.com/investors

October 25, 2010

This communication shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

SOURCE Live Nation Entertainment

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