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Live Nation chairman Cohl negotiating exit
Concert promoter Live Nation Inc. is negotiating the exit of its chairman, Michael Cohl, amid a dispute between him and CEO Michael Rapino, according to a newspaper report Thursday. Cohl and Rapino have been battling over contracts known as “360 deals” that give the company an all-encompassing stake in an artist’s business, including albums, touring, merchandising, and television and film projects, The Wall Street Journal reported on its Web site. Live Nation already has inked such deals with artists Madonna and Jay-Z, reportedly worth $120 million and $150 million, respectively. Cohl wants to accelerate the pace of the dealmaking, while… Read more »