LN Casts Off Sports
“The sale of these SFX sports divisions is in line with our strategy to focus on our core businesses of live music concerts, venue management and Web site development,” Live Nation CEO Michael Rapino said in a statement.
Blue Equity has renamed the divisions SFX Media & Events.
The company purchased SFX Tennis, which represents Andy Roddick, Justine Henin-Hardenne and several Olympic medalists, in July.
The sports division was originally part of SFX Entertainment and has kept its monikers – through the purchase by Clear Channel Communications and the Live Nation spinoff.
The golf and football divisions were sold to their respective principals, golf’s John Mascatello and football’s Jim Steiner and Ben Dogra, earlier this summer.
Live Nation still owns the basketball and baseball divisions as well as a U.K. affiliate.