House of Blues sold to Live Nation (Clear Channel)

[styxfanNH]

The Live Nation Blues
Updated 09:17 PDT Wed, Jul 05 2006
LOS ANGELES (AP) - Concert producer Live Nation Inc. on Wednesday said it has agreed to buy House of Blues operator HOB Entertainment Inc. for $350 million in cash.
HOB runs 10 House of Blues-brand music venues and amphitheaters in major metropolitan areas including Las Vegas, Los Angeles and Chicago.
Live Nation said the acquisition will expand its reach in the growing mid-size venue business and fill geographic gaps in its amphitheater portfolio.
The company expects the deal, which is expected to close by the end of 2006, to boost earnings within the first year.
Live Nation owns, operates and has booking rights to some 150 venues in the U.S. and abroad and produces concerts, touring Broadway shows and sports events.

[whocares]

Well that just bites.