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July 31, 2006 / 2:55 PM

Live Nation to buy control of Musictoday

LOS ANGELES, July 31 (UPI) -- Los Angeles' Live Nation Inc., a live event and venue manager, is buying control of Musictoday LLC, which operates online fan clubs.

Founded in 2000 by Coran Capshaw, Musictoday also handles artist e-commerce and fulfillment and secondary market ticketing, Live Nation said Monday.

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Musictoday's has more than 500 clients, including Dave Matthews Band, the Rolling Stones, John Mayer, Kenny Chesney, the Bonnaroo Music and Arts Festival, Christina Aguilera, AC/DC and the Grateful Dead. Musictoday employs more than 200 people and has headquarters in Charlottesville, Va. In 2005, the company's gross sales exceeded $100 million.

Live Nation, which did not disclose its stake in Musictoday or the amount it paid to acquire that stake owns, operates or has booking rights for 153 venues worldwide and produced more than 29,500 events in 2005.

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