Live Nation LYV Posts 3Q Loss

LOS ANGELES, Nov 7 (Reuters/AP) – Live Nation Inc. (LYV.N), the largest live entertainment company in the United States, on Tuesday posted a loss for the third quarter of $9.1 million, or 14 cents per share, compared with a profit of $26.1 million in the year-ago period. Revenue rose to $1.35 billion from $998.4 million in the year-ago period. Analysts polled by Thomson Financial had expected a profit of 67 cents per share.

Live Nation also said Tuesday that it expects to incur expenses of $6 million to $7 million related to its recent acquisition of House of Blues, but the deal is also expected to provide about $15 million in cost savings, the company said.