Live Nation Entertainment Suspends All Tours Through March; Shares Plunge 16.6%
Music is one of the latest victims of the novel coronavirus pandemic as Live Nation Entertainment (NYSE: LYV) suspended all of its concert tours and other events through the end of March. A few concerts and events scheduled for Thursday and Friday will occur as scheduled, but after that, Live Nation will pause all tours until at least the beginning of April, according to the New York Times and other sources.
Live Nation organizes the tours of many different artists, including Billie Eilish, Celine Dion, Thundercat, Cher, Post Malone, Morrissey, Kiss, and TOOL. It had already sold 38 million tickets for 2020 events by late February. The tours are postponed rather than canceled thus far, with the company planning to assess the COVID-19 situation in April. If the signs appear favorable then, the tour schedule will kick off again in either May or June.
Image source: Getty Images.
Source Fool.com
