Published: September 09, 2008
Photo: Feld Entertainment Acquires Live Nation Motor Sports
VIENNA, Va., Sept. 9 /PRNewswire/ -- Feld Entertainment, Inc., today
announced the completion of its acquisition of Live Nation Motor Sports, Inc.,
a division of Live Nation, Inc. (NYSE: LYV). As a result of the acquisition,
Live Nation Motor Sports will be immediately renamed Feld Entertainment Motor
Sports.
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Feld Entertainment Motor Sports will continue operations inAurora,
Illinois, and will maintain its current management, tour schedules,
promotional partnerships and performance structure. As the newest addition to
Feld Entertainment, Feld Entertainment Motor Sports will continue to produce
Monster Jam Series, Monster Energy AMA Supercross, FIM Championship and other
high-energy motor sports events, including the AMA Arenacross Series;
Freestyle Motocross; and International Hot Rod Association (IHRA) sanctioned
events, including Knoll Gas Nitro Jam, Thunder Jam and Street Warriorz.
"Today marks the single biggest expansion of Feld Entertainment in over 40
years," according to Kenneth Feld, Chairman and CEO of Feld Entertainment.
"With the addition of Motor Sports, Feld Entertainment can now offer families
everywhere an even wider range of live family entertainment options. The
edge-of-the-seat excitement of all the Motor Sports events appeals to families
in the US and around the world. We plan to take Monster Jam and all the Motor
Sports spectaculars to more domestic and international markets than ever
before."
With productions of Ringling Bros. and Barnum & Bailey(R), Disney On Ice,
Disney Live! and Doodlebops Live!, Feld Entertainment is the world's largest
producer of live touring entertainment events. Live Nation Motor Sports, now
Feld Entertainment Motor Sports, is the premier producer and promoter of
specialized motor sports with more than 600 performances a year. The
acquisition of Motor Sports dramatically expands Feld Entertainment's family
spectaculars to reach more than 30 million people in 55 countries with over
5,000 performances globally each year.
For the acquisition of Live Nation Motor Sports, Deutsche Bank Securities
Inc. acted as financial advisor, and Fulbright & Jaworski, L.L.P. served as
outside legal counsel to Feld Entertainment. In addition, Bank of America,
N.A. led a group of seven banks to provide financing to Feld Entertainment in
connection with the transaction.
About Feld Entertainment, Inc.
Feld Entertainment is the worldwide leader in producing and presenting
live entertainment experiences that lift the human spirit and create indelible
memories, with 30 million people in attendance at its shows each year. Feld
Entertainment's productions have appeared in more than 55 countries on six
continents and include Ringling Bros. and Barnum & Bailey(R), Disney On Ice,
Disney Live!, Doodlebops Live! and now Feld Entertainment Motor Sports.
More information about Feld Entertainment, Inc. is available online at
www.feldentertainment.com.
SOURCE Feld Entertainment, Inc.
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