Live Nation Pauses Tours Over Coronavirus Concerns
Live Nation is joining some of the major companies who are recognizing national concerns over the spread of the coronavirus. The promotion company is instructing its touring shows to prepare to return home. This applies to all domestic and international Live Nation tours.
Employees of Live Nation were told that the company is recognizing the large gatherings around the world that are being cancelled, and that current touring arena shows will be postponed through the end of March. A handful of shows will play out over the next few days, but will be postponed after.
Like many businesses addressing health and safety concerns, Live Nation is instructing its employees to work remotely and to not come into the office. A majority of Live Nation headquarters in Beverly Hills, California will be closed until the end of March. Fortunately, a company executive told employees that March is generally a slow month and hopes to resume touring in May or June.
Although the company experienced a huge drop of 15.6% on their stocks, this closure will not put Live Nation jobs in danger. The company has told staff it is well positioned to weather the closure.