This doesn’t mean Madge actually intends to dump the shares — this is simply boilerplate paperwork that allows her to sell them at her leisure. But the SEC filing does remind us how rough the past few months have been for Live Nation’s shareholders.
LYV was trading around $21.30 in mid-October, when she finalized her deal. Since then the stock has been pummeled, as investors worry both about the concert business and Live Nation’s strategy. It’s now at a $11.78, down 45% — and her $25 million stake in the company is now worth a mere $13.8 million. Better get that next tour underway, pronto.
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