Live Nation Buys Licensing Company

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Live Nation Inc. said Thursday that it has agreed to buy Signatures Network Inc. for $79 million in a move to further bolster its emerging music merchandising business.


The deal will give Beverly Hills-based Live Nation the rights to make and sell products ranging from T-shirts to toys for more than 150 artists including the Beatles, Ozzy Osborne and Justin Timberlake.


Dell Furano, the current chief executive of San Francisco-based Signatures’, will head the new division, Live Nations said in an announcement.


In April, Live Nation also bought the remaining stake in classic rock T-shirt maker Trunk Ltd., marking the first major expansion from its traditional ticket-selling and venue operation business. Live Nation also signed Madonna to a touring, sponsorship and recording deal last month.


Closely held Signatures will now lead Live Nation’s merchandise division. The deal is expected to close by the end of this year, Live Nation said.


Shares in Live Nation were up 7 cents to $16.05 in early trading Thursday on the New York Stock Exchange.

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