Last fall, Madonna received 1.17 million shares in Live Nation (LYV), part of a megabucks deal she signed when she joined up with the concert promoter. Now she’s registering to sell them.
This doesn’t mean Madge actually intends to dump the shares — this is simply boilerplate paperwork that allows her to sell them at her leisure. But the SEC filing does remind us how rough the past few months have been for Live Nation’s shareholders.
LYV was trading around $21.30 in mid-October, when she finalised her deal. Since then the stock has been pummelled, as investors worry both about the concert business and Live Nation’s strategy. It’s now at a $11.78, down 45% — and her $25 million stake in the company is now worth a mere $13.8 million. Better get that next tour underway, pronto.
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