UPDATE: Magid Leaves Live Nation

Renowned promoter Larry Magid may have exited his position as chairman of Live Nation Philadelphia, but he isn’t set to retire just yet.

Magid, who told the Philadelphia Inquirer he parted ways with the company when they couldn’t agree on financial terms, said he may continue to collaborate with LN in the future.

And as he hasn’t had a contract with Live Nation “for some time,” Magid isn’t bound by a non-compete clause. He said he is currently working on things “locally, nationally and internationally” in the concert world.

Geoff Gordon reportedly stays on as president of the region.

As founder of Electric Factory Concerts and producer of the city’s Live Aid and Live 8 concerts, Magid’s been an undeniable force in the Philly concert scene for more than 40 years.

He entered the Live Nation fold after selling Electric Factory Concerts to LN predecessor SFX in 1998.