Live Nation Previews Positive Quarter

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Live Nation Inc., which plans to merge with Ticketmaster Entertainment Inc., said Friday its fourth-quarter adjusted operating income is expected to exceed analysts’ estimates.

The number of concerts produced by the Beverly Hills concert promoter rose 18 percent in the fourth quarter compared with the year-earlier period, and attendance climbed 15 percent, Live Nation said in a regulatory filing. About 5.9 million tickets to date have been sold in 2009, compared with 5.7 million tickets at this point last year.

“Despite the recession, the company’s outlook for the remainder of 2009 is optimistic as business remains strong and millions of fans continue to attend concerts,” Live Nation said in the filing, which covered material information that Chief Executive Jason Garner provided during a Feb. 12 interview that had not earlier been released by the company.

The company has not announced when it will release its fourth quarter and full year 2008 financials.

Live Nation shares closed down 32 cents, or 8 percent, to $3.53 on the New York Stock Exchange. U.S. antitrust enforcers this week opened an investigation of the proposed combination of Live Nation Inc. and West Hollywood-based Ticketmaster Entertainment Inc., considered the largest companies in live music

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