Irving Azoff Quits Live Nation -
Irving Azoff and wife Shelli

Irving Azoff and wife Shelli

Irving Azoff Quits Live Nation

by Paul Cashmere on January 1, 2013

in News,Noise Pro

Live Nation Entertainment Chairman Irving Azoff has resigned from the company, effective immediately.

Irving Azoff and wife Shelli

Irving Azoff and wife Shelli

65-year old Azoff was contracted to the company until mid-2014 but chose the last day of 2012 to make his departure public.

As Chairman of Live Nation, Azoff merged Live Nation and Ticketmaster to make the biggest music company in the world. “After successfully overseeing the integration of Live Nation and Ticketmaster over the past two years, my job here is done. We put together the leading company across concert promotion, ticketing, sponsorship and artist management and delivered the great results promised by the merger,” said Mr. Azoff. “I especially enjoyed my time with my partner Michael Rapino, and he has demonstrated the ability to lead this company from now on. I’m looking forward to returning to the entrepreneurial world and continuing to work with all my friends and colleagues at Live Nation.”

However, in an interview later in the day with The Wrap Azoff was a lot more blunt about reasons for his departure. “Life at a public company ain’t for me,” he said. “The board pays you what your worth, then you get reamed for your compensation. They don’t like the way you elect directors, you should be giving options. It’s horseshit. You can’t be an entrepreneur and work in a public company anymore.”

As part of the original merger, Azoff’s management company Frontline Management also became part of Live Nation. Frontline Management represented the careers of the Eagles, Steely Dan, Aerosmith, Jimmy Buffett, Christina Aguilera and more.

Live Nation has not announced plans for the future of Frontline without Azoff but in his statement Michael Rapino, President and CEO of Live Nation said, “I look forward to continuing to work with Irving on his artists’ tours for years to come,” suggesting that Live Nation will let Azoff take Frontline with him.

According to the Wall Street Journal, Azoff was paid $12 million in cash for his departure and is selling his 2 million shares and 664,000 options back to the company. Live Nation shares closed at $9.31 today. The 52-week range for the company is $8.01 – $11.00.

Azoff is expected to announce that he will be joining the board of cable-television company Starz.

Stay updated with your free Noise11 daily music newsletter. Subscribe to Noise11 Music News here

Related Posts

Aerosmith in Melbourne Australia 2013 photo by Ros O'Gorman
Steven Tyler Joins The Black Crowes In London

Aerosmith’s Steven Tyler was a surprise guest with The Black Crowes in London this week with the fans treated with an early Aerosmith classic.

May 16, 2024
Guns N Roses perform at the MCG in Melbourne on Tuesday 14 February 2017. Guns N Roses are touring Australia on their Not In This Lifetime tour. Photo Ros O'Gorman
Slash Honoured To Have Brian Johnson and Steven Tyler On His Record

Slash says it was a "huge honour" having AC/DC's Brian Johnson and Aerosmith's Steven Tyler play on his record.

May 10, 2024
Steven Tyler, Aerosmith, Noise11, Ros O'Gorman, Photo
Steven Tyler Accused A Second Time For Sexual Assault

A second woman has accused Steven Tyler of sexual assault.

November 3, 2023
Aerosmith Australia 2013 photo by Ros O'Gorman
Aerosmith Postponed All Remaining 2023 Dates

Aerosmith have postponed all of their 2023 tour dates as Steven Tyler has suffered a fractured larynx.

October 2, 2023
Aerosmith in Melbourne Australia 2013 photo by Ros O'Gorman
Aerosmith Reschedule All Shows For Next 30 Days While Steven Tyler Recovers From Vocal Cord Damage

Aerosmith have been sidelined for the next 30 days so that Steven Tyler can recover from a vocal cord injury that happened on Saturday.

September 12, 2023
Aerosmith Greatest Hits
Aerosmith To Release Carrier Spanning Greatest Hits

Aerosmith have a career spanning Greater Hits on the way ahead of their Peace Out final tour with The Black Crowes.

June 21, 2023
Aerosmith in Melbourne Australia 2013 photo by Ros O'Gorman
Aerosmith Announce Final North American Tour

Aerosmith will quit touring after one last lap. “PEACE OUT! After 50 years, 10 world tours, and playing for over 100 million fans... It's time for one last go!,” the band said in a statement.

May 2, 2023