Tuesday, September 09, 2008

From Bill Powell

FELD ENTERTAINMENT ACQUIRES LIVE NATION MOTOR SPORTS
Dear friends and business associates,
I wanted to share some exciting information with you. Please see the press release below for details.
Regards,

Bill Powell


Leading global producer of live family entertainment marks largest expansion in company's 40-year history
Vienna, Virginia (September 10, 2008) /PRNewswire/ Feld Entertainment, Inc., today announced the completion of its acquisition of Live Nation Motor Sports, Inc., a division of Live Nation, Inc. (NYSE: LYV). As a result of the acquisition, Live Nation Motor Sports will be immediately renamed Feld Entertainment Motor Sports.

Feld Entertainment Motor Sports will continue operations in Aurora, Illinois, and will maintain its current management, tour schedules, promotional partnerships and performance structure. As the newest addition to Feld Entertainment, Feld Entertainment Motor Sports will continue to produce Monster Jam Series, Monster Energy AMA Supercross, FIM Championship and other high-energy motor sports events, including the AMA Arenacross Series; Freestyle Motocross; and International Hot Rod Association (IHRA) sanctioned events, including Knoll Gas Nitro Jam, Thunder Jam and Street Warriorz.

"Today marks the single biggest expansion of Feld Entertainment in over 40 years," according to Kenneth Feld, Chairman and CEO of Feld Entertainment. "With the addition of Motor Sports, Feld Entertainment can now offer families everywhere an even wider range of live family entertainment options. The edge-of-the-seat excitement of all the Motor Sports events appeals to families in the US and around the world. We plan to take Monster Jam and all the Motor Sports spectaculars to more domestic and international markets than ever before."

With productions of Ringling Bros. and Barnum & Bailey®, Disney On Ice, Disney Live! and Doodlebops Live!, Feld Entertainment is the world's largest producer of live touring entertainment events. Live Nation Motor Sports, now Feld Entertainment Motor Sports, is the premier producer and promoter of specialized motor sports with more than 600 performances a year. The acquisition of Motor Sports dramatically expands Feld Entertainment's family spectaculars to reach more than 30 million people in 55 countries with over 5,000 performances globally each year.

For the acquisition of Live Nation Motor Sports, Deutsche Bank Securities Inc. acted as financial advisor, and Fulbright & Jaworski, L.L.P. served as outside legal counsel to Feld Entertainment. In addition, Bank of America, N.A. led a group of seven banks to provide financing to Feld Entertainment in connection with the transaction.

About Feld Entertainment, Inc.
Feld Entertainment is the worldwide leader in producing and presenting live entertainment experiences that lift the human spirit and create indelible memories, with 30 million people in attendance at its shows each year. Feld Entertainment's productions have appeared in more than 55 countries on six continents and include Ringling Bros. and Barnum & Bailey®, Disney On Ice, Disney Live!, Doodlebops Live! and now Feld Entertainment Motor Sports.

More information about Feld Entertainment, Inc. is available online at www.feldentertainment.com.

Bill Powell
Vice President
Event Marketing and Sales
Feld Entertainment

15 comments:

Anonymous said...

Since Ringling has a lock on Globe of Death riders the motocross riders should take note that they are easily replaced.

Anonymous said...

The biggest expansion in 40 years is beginning just after the biggest downsizing of the Greatest Show on Earth in the last 50 years.
Employment applications flooding Russia and China now read: Please check the following skills;
1. Contortionist
2. house cat act
3. aerial silks
4. monster truck driver
The sale price was 175million plus 30 milllion in bonus money. So that is where the money went from the $15 dollar snow cones.

Anonymous said...

"Well, there goes the neighborhood" Jeeze....are they going to buy out everything sports and entertainiment related now? So much for the Circus part of this huge mess! Jim

Wade G. Burck said...

Bill,
This sucks. When I tried to jump my motorcycle across the river by the Arco Arena in Cleveland in 1992, resulting in a concussion and dislocated shoulder so I had to wear a sling in the show, I don't remember Kenneth being that excited about motocross. LOL
Wade

Buckles said...

Those Monster trucks better get used to working on rubber.

Anonymous said...

Look for Kenneth and daughters in the front row of the Monster Truck show on opening night, they will be wearing plastic ponchos to protect their fancy clothes plus those clunky noise reducers for the ears.
I wonder who is going to tell the drivers that they have to do meet and greet and pose for photos with the audience one hour before show time.
Culture Clash is about to happen.
Sam

Anonymous said...

Next NASCAR!!!!
Whoops, I don't have enough money or credit for that, sorry.

Buckles said...

I was talking with a party tonight who informed me that the funds were drawn from seven different banks.

Anonymous said...

when they withdrew the money did they use masks and a hold-up note or did they just use the atm machine?
Gosh darn it what is going to be next? Hooters?
Kenneth Feld presents Hooters...the greatest (fill in the blank) on earth.
These big companies get too big to manage then they get into trouble and then they sell of the underperforming assets---make some popcorn and sit back and watch this one'it will happen eventually,

Anonymous said...

Welcome to Kenneth-Vision, your new cable tv provider.
Coming soon to a neighborhood near you, get ready for high speed internet by Hagenbeck-Wallace Wifi and telephone service by Sells-Floto-Phone.

Anonymous said...

I'll be waiting to see how much the tickets go up to pay for this "expansion." Here in Oregon kids prices were only 5.00 and adults 15.00. Of course they made up for that by selling 3.00 ear plugs to everyone in the building..LOL..And Sam the drivers already do a meet and greet with the crowd.

Roger Smith said...

I've preceded or followed many racetrack events all over the country--so have most of you. These drivers carry some rather, shall we say, veteran redneck racetrack girlfriends over the route. In their world, they don't care who the Felds are. Talk about a record-breaking tune-up, wait till Nicole brings her repugnant, aggressive offenses to the infields and pits around those gals.

Roger Smith

Wade G. Burck said...

Buckles,
I will assume that was Kenneth Feld who called, as I can't imagine who else would know for sure for a fact, where and what banks the money came from.
Wade Burck

Anonymous said...

Why not, I thought for years that ringling should have a nascar on the track. 200 mph clown car what could be more fun, Drag queen racing. Fields it's your money spend it how you wish. To hell with those of us who would be happy just living off you the intrest from your BILLIONS.

If it happens to some how promote the circus, it was a good move.

In this biz if your not ready for change start planning your retairment.

Flash New circus coming out of Vagas mid feb.
Dr.Suesse's [i hope i spelled that right] if i ran the circus mcgurcus. Directed bye Franco Dragon.

Adam Spencer

Anonymous said...

Ringling has a lock on the Globe of Death Riders?Really???Motorcross and the Globe are two totally different sports.Take note.