By Chris M. Walsh, N.Y.
Live Nation Artists acquired merchandiser Signatures Network, Inc. for approximately $79 million in cash, stock and repayment of debt, before working capital adjustments. The transaction is expected to close later this year.
Signatures Network's CEO, Dell Furano, will head up Live Nation Artists' Merchandise Division.
Signatures Network holds the rights to market and license more than 150 artists in all genres, including The Beatles, U2, Bruce Springsteen, Barbra Streisand, Justin Timberlake and Jennifer Lopez.
Live Nation Artists, a division of promotion giant Live Nation and headed by veteran Rolling Stones tour producer Michael Cohl, launched last month with Madonna as its flagship artist.
Sunday, November 18, 2007