Live Nation Purchases House of Blues (HOB)

As if the concert industry really needs another monopoly…

From Billboard…

Only weeks after HOB CEO Greg Trojan told Billboard that he did not see a sale of his company happening, Live Nation has entered into a definitive merger agreement to acquire HOB Entertainment, Inc. for an aggregate purchase price of $350 million. The transaction is expected to close by the end of the year.

Live Nation recently acquired a controlling interest in the touring division of Michael Cohl’s Toronto-based Concert Productions International and a 50% interest in CPI’s Grand Entertainment division.

Me thinks we’re going to start seeing a lot more autonomy in the concert biz (as if we don’t already)…can the indie promoter really make it in today’s world?