Live Nation Sells Another Sports Business

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Live Nation said Monday that it has sold its European SFX Sports Group to Wasserman Media Group. In a deal that officially closed Nov. 9, the Los Angeles-based company said.


“The sale of this division is consistent with our strategy of divesting our sports properties in order to focus on our core businesses,” said Michael Rapino, Live Nation’s chief executive.


Earlier this summer Live Nation announced that it sold several of its other sports related businesses, including SFX Television and SFX Events, as well as its Baseball, Tennis, Golf and Football divisions in an effort to focus primarily on music and concert venues.


Shares in Live Nation were down 30 cents to $21.42 early Monday.

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