Details about the stand-alone company’s plans were expected to be released any second now.
Shares of the new company are expected to be issued December 21, with Clear Channel stockholders receiving one share of Live Nation stock for every eight CCC shares they owned by December 14.
Live Nation will move from Houston to be headquartered in Beverly Hills, Calif., according to Securities and Exchange Commission documents – though in reality, the power base moved to California months ago.
In the meantime, the company is in the process of laying off about 400 employees, or 10 percent of its work force, according to the WSJ.
In stripping its previous 14 divisions down to six core businesses, it is shedding marginal enterprises like music publishing and museum exhibitions.