Ariel Emanuel speaks onstage during Los Angeles LGBT Center's 48th Anniversary Gala Vanguard Awards at The Beverly Hilton Hotel on September 23, 2017 in Beverly Hills, California.
Emma McIntyre/Getty ImagesAri Emanuel has resigned from his position on the Live Nation board of directors nearly 14 years after the founding partner at Endeavor was elected to represent shareholders of the world’s largest concert promoter, according to an SEC filing from Friday.
Emanuel had planned to leave following the launch of Endeavor’s IPO in April, according to a source at Live Nation, After a false start in 2019, Emanuel was able to successfully take the sprawling entertainment company Endeavor -- which owns the WME and IMG talent agencies, the Miss Universe Pageant, Ultimate Fighting Championship and ticketing and hospitality company OnLocation -- public on the New York Stock Exchange, raising about $511 million at a valuation of a little over $6 billion.
But his timing exiting Live Nation makes sense for another reason: Documents obtained by Billboard suggest Emanuel was waiting until June 3 for the vesting of his final stock award of 4,470 shares issued June 2020 worth nearly $400,000.
In a Live Nation SEC filing announcing Emanuel’s exit, the company said he “withdrew from reelection to the board of directors and will not be standing for reelection at the Company’s annual meeting of stockholders" on June 10. Live Nation officials note that the split was amicable and “not the result of any disagreement.”
Emanuel has enjoyed a long relationship with Live Nation chief executive and president Michael Rapino. Endeavor’s talent agency, WME, is one of the world’s largest music agencies and has booked the company’s clients across Live Nation’s portfolio of venues, festivals and global touring deals, resulting in billions of dollars in tickets sold. Endeavor also holds a partial ownership stake in Lollapalooza with Live Nation, which the promoter acquired in 2014 with the purchase of C3 Presents.
Live Nation’s stock value has grown nearly 350% during Emanuel’s time on the board, trading for approximately $20.30 per share in September 2007, down to a low of less than $5 per share in 2009 during the worst months of the financial crisis before beginning its ascent in 2013 and eventually reaching $75 a share in 2019. That’s a point Emanuel famously reminded Irving Azoff of in June 2013, six months after Irving unexpectedly resigned from his chairman position at Ticketmaster and cashed out his stock.
Emanuel began the fight, with many executives and WME agents on copy, forwarding an article from the Financial Times reporting that Live Nation’s stock price nearly doubled in the first half of the year.
“The article says since you left stock has continued to grow…..interesting,” Emanuel wrote. “How much money you lost by selling. Stupid move.”
Irving Azoff’s wife, Shelli Azoff, disagreed: “I am in the air on my new g450 (private jet),” she replied “We did ok with the LN stock.”
Years later, Emanuel might now be wondering if he sold his own Live Nation stock too early. On March 3, 2020, about 10 days before the company pulled touring shows off the road due to the growing COVID-19 pandemic, Emanuel sold more than 71,000 of his shares in Live Nation — representing 97% of his holdings in the company for approximately $58.26 per share, for a total of $4.8 million. Had he waited 15 months until his other stocks had vested on June 3, 2021, to cash out his holdings, it would have been worth $90 per share, buoyed by investor expectations for a strong recovery after the pandemic, generating $6.4 million.
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Mustard has seemingly hit back at comments from Drake‘s producer Gordo, with a little help from JAY-Z.
Gordo, who worked on several Drizzy albums including $ome $exy $ongs 4 U, For All the Dogs and Honestly, Nevermind, called out the “Not Like Us” hitmaker this week after noticing that he was no longer following him on social media.
“omg just noticed mustard unfollowed me on ig…. Sad day,” he wrote sarcastically on X. “headlining chella must of got to his head.”
Despite unfollowing Gordo, Mustard appeared to catch wind of his post and issued a snarky yet subliminal response on Instagram.
Alongside a caption which read: “We not the same,” the producer posted a video of JAY-Z in an interview saying: “Are you kidding me? Who are you guys talking to? What have you done to even have an opinion on what I been doing? You done nothing to even have an opinion.”
Swipe below to see the clip.
Mustard hasn’t exactly been quiet about his disdain for Drake throughout the 6 God’s beef with Kendrick Lamar which erupted last year.
The multi-platinum producer and DJ graced the stage at Tyler, The Creator‘s Camp Flog Gnaw last November, where he surprised the crowd by appearing to cue up Drizzy’s Take Care hit “Crew Love” with The Weeknd.
Before the song could kick into gear, however, Mustard jumped on the mic and yelled, “Sike!” before quickly pivoting to Kendrick, Future and Metro Boomin‘s “Like That,” the blistering collaboration that ignited the heated feud between the Hip Hop titans.
In an interview with the Los Angeles Times months earlier, the 10 Summers hitmaker took a shot at Drake’s character while ruling out a reunion with his “Who Do You Love?” collaborator.
“I don’t think I want to make a song with that dude. He’s a strange guy,” he said matter-of-factly.
Mustard would also offer Drake some advice on how to bounce back from the beef, saying to Big Boy: “I’m not speaking at Drake or for him, but a lot of shit that’s going on — the tactics, the things that you do just to get attention. You don’t need to do that. Just make music, man. Make good music and you’ll be fine.”
Mustard also made a surprise appearance during Kendrick Lamar’s historic Super Bowl halftime show performance, joining the Compton superstar for his climactic rendition of “TV Off” which he also produced.
