Los Angeles Times: "The concert season is off to a good start, but don't set your cigarette lighter too high just yet.
That was the message from Live Nation Entertainment Inc., the country's largest concert promoter, which reported a 17.4% increase in its first quarter revenue and a narrower loss thanks to growth in its ticketing and festivals businesses.
The Beverly Hills live event conglomerate posted sales of $849.4 million in the quarter ended March 31, up from $723.4 million a year ago. The company lost $54.3 million, or 27 cents a share, down from a $123-million loss, or 83 cents a share, a year earlier. That loss included $77.5 million in write-offs related to Live Nation's 2010 merger with Ticketmaster and other factors.
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