Clear Channel Buys House Of Blues For $350 Million

It might take Live Nation six months to finalize its purchase of House Of Blues in 10 cities, including Vancouver. Until then, LN and HOB will operate independently. The deal will add 18 HOB venues, including The Commodore Ballroom, to LN’s 153 locations.

Live Nation is a spinoff created last December by Clear Channel Communications, the largest concert promoter in North America. CCC is known in Vancouver for promoting large-scale shows by bands like Coldplay or Pearl Jam. HOB diversifies – it presents The Vans Warped Tour at UBC and The Burnaby Blues Festival at Deer Lake – and is a frequent promoter of concerts at not just The Commodore but Richard’s on Richards, The Croatian Cultural Centre, Malkin Bowl, The Orpheum and others. Whether LN will continue to work with these smaller venues in unknown.

An HOB spokesman said they viewed the takeover as “a very positive step in the company’s evolution. LN has the additional resources to accelerate HOB’s growth and opportunities over the long-term”. To that end, HOB was receptive when LN offered to buy.

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