Clear Channel Communications, Inc. announced the completion of their new spin-off live entertainment company, Live Nation. Formerly based in Houston as Clear Channel Entertainment, the new division is now headquartered in Beverly Hills, Calif. Many Houstonians lost their jobs at the entertainment company over the past few years due to the restructuring.
What does this mean for Houston entertainment-wise? Well, Live Nation will still control bookings at the Toyota Center, Cynthia Woods Micthell Pavilion and the Verizon Wireless Theater downtown. This may put a stranglehold on other venues trying to attract larger acts. Luckily, the founders of the original Houston-based Pace Concerts are opening a new venue downtown next month called Warehouse Live. They’ve had luck in the past attracting popular acts and will hopefully give Clear Channel a run for its money.
Houstonist knows business is business, but we ponder the real reason for the spin-off. The company claims it’s for their stockholders, to diversify the stocks into three separate entities. However, we wonder if it’s a ploy to hide the battered Clear Channel name – listening to the bland radio stations they own in Houston will make you nauseous as it is.
No matter who owns the venues in town, we just hope that good, fresh acts will keep coming here. Sure, Houston is no Austin when it comes to music, but Houstonians do have an appetite to see more cutting edge acts, not just Ashlee Simpson. We worry that Live Nation won’t be up for the challenge.
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Photo courtesy of www.fujichia.com
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