Cohl Keeps On
Sources confirm that Michael Cohl is still with Live Nation.
The Wall Street Journal was reporting at press time that Cohl was "threatening" to leave Live Nation but stopped short of saying it was a done deal. Instead, sources told the WSJ the parties were in talks again and Cohl had dropped his threat.
Cohl apparently has an eight-year non-compete clause in his LN contract, according to the WSJ.
A "full-blown feud" supposedly erupted between Cohl and the Live Nation board, with Cohl taking the heat for the 360 deal signings, while Live Nation CEO Michael Rapino was trying to slow the pace of expensive agreements.
Cohl said he would buy back his Concert Productions International from Live Nation for $123 million in stock and $10 million in cash, according to the WSJ.
Live Nation had no official comment at press time.