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.
PETA has called on Cage The Elephant to temporarily change their name ahead of their upcoming NFL halftime performance in Munich later this week.
The band are scheduled to perform during the New England Patriots vs. Detroit Lions game this Sunday (November 15).
Ahead of the show, PETA has asked Cage The Elephant to change their name across their social media accounts to Free The Elephant for one week.
According to a press release from the animal rights group, an elephant named Okha “has spent most of her life forced to perform in the circus under the threat of punishment”. The organisation is now seeking support to “help retire her to a reputable sanctuary”.
PETA also alleges that Okha is “currently being hauled around in a trailer with an exhibitor, Brian Franzen”, who supposedly “has a history of felony cruelty to animals charges” and “was caught on camera yanking and striking an elephant with a bullhook”.
In a letter addressed to Cage The Elephant, PETA wrote: “There ain’t no rest for Okha. We think you’d agree that she deserves the chance to spend her remaining years in peace with care, dignity, and respect.
“Lending a rendition of your iconic name for a short while could… help us come a little closer to ending animal cruelty in circuses.”
PETA added that it has already held more than “30 demonstrations on Okha’s behalf, contacted venues hosting animal acts, and rallied tens of thousands of supporters to call for her retirement”.
The group is also asking the public to “call on venues to stop hosting circuses that use animals and help retire Okha to a reputable sanctuary where she could roam expansive habitats, forage, receive expert veterinary care, and have the companionship of other elephants”.
Cage The Elephant have not yet made a public statement about the request, and NME has reached out to the band for a response. Franzen has also not issued a public response to the allegations made by PETA.
The request follows a previous approach by PETA to Led Zeppelin frontman Robert Plant, asking him to temporarily adopt the name ‘Robert Plant Wool’ to help promote alternatives to sheep’s wool.
PETA has also previously urged Nintendo to redesign the popular Mario Kart World character Cow, claiming that its current appearance encourages animal cruelty.
Meanwhile, Cage The Elephant recently revealed details of their upcoming album ‘Dying In Reverse’, which is set to arrive on February 5, 2027, through Big Loud Rock. Fans can pre-order the record here.
The band are also preparing for a UK and European tour in 2027. You can check out the full list of dates here and find any remaining tickets here.
