Item 1.01 Entry into a Material Definitive Agreement.

On November 2, 2009, Live Nation Inc. (the "Company", or "Live Nation") sold all of the stock of Live Nation (Venues) UK Limited, which held the Company's remaining U.K. theatrical venues and operations, to The Ambassador Theatre Group Limited ("Ambassador"), an owner and operator of regional theaters in the United Kingdom. The U.K. theater portfolio purchased by Ambassador includes two West End theaters, the Lyceum and Apollo Victoria, and 14 regional theaters located throughout the United Kingdom. The total gross sales price for the U.K. theater portfolio was approximately $148.0 million. After fees, expenses, direct taxes, an adjustment to replace the show cash of the theatrical business that was previously removed from the operations and utilized by the Company, a working capital adjustment and other adjustments, the Company currently expects to receive approximately $99.0 million of net proceeds. In accordance with the terms of Live Nation's credit facilities, 50% of those net proceeds will be applied as a permanent reduction to the Company's term loans, and all other net proceeds will be used to fund working capital.

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