The Wall Street Journal looked back on 2008 and picked its “best calls” of the year.
No. 8 has to do with Live Nation, but not a call the company itself made.
“This is what it means to hedge one’s bets,” the WSJ’s David Gaffen wrote. He was talking about the deals Madonna and U2 signed with Live Nation, in which U2 opted to sell its LN stock for a guaranteed $25 million when its value dropped to about $6 million. Live Nation covered the difference.
Madonna can sell her stock in April if she chooses.
Gaffen did not note that Live Nation had spectacular success with Madonna’s Sticky & Sweet tour nor that the company will likely make up its loss with U2’s expected world tour next year.