<SEC-DOCUMENT>0001104659-25-121732.txt : 20251216
<SEC-HEADER>0001104659-25-121732.hdr.sgml : 20251216
<ACCEPTANCE-DATETIME>20251216210552
ACCESSION NUMBER:		0001104659-25-121732
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20251215
FILED AS OF DATE:		20251216
DATE AS OF CHANGE:		20251216

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Liberty Media Corp
		CENTRAL INDEX KEY:			0001560385
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEVISION BROADCASTING STATIONS [4833]
		ORGANIZATION NAME:           	06 Technology
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32601
		FILM NUMBER:		251577045

	BUSINESS ADDRESS:	
		STREET 1:		12300 LIBERTY BOULEVARD
		CITY:			ENGLEWOOD
		STATE:			CO
		ZIP:			80112
		BUSINESS PHONE:		720-875-5400

	MAIL ADDRESS:	
		STREET 1:		12300 LIBERTY BOULEVARD
		CITY:			ENGLEWOOD
		STATE:			CO
		ZIP:			80112

	FORMER NAME:	
		FORMER CONFORMED NAME:	Liberty Spinco, Inc.
		DATE OF NAME CHANGE:	20121015

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Live Nation Entertainment, Inc.
		CENTRAL INDEX KEY:			0001335258
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-AMUSEMENT & RECREATION SERVICES [7900]
		ORGANIZATION NAME:           	07 Trade & Services
		EIN:				203247759
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		9348 CIVIC CENTER DRIVE
		CITY:			BEVERLY HILLS
		STATE:			CA
		ZIP:			90210
		BUSINESS PHONE:		310-867-7200

	MAIL ADDRESS:	
		STREET 1:		9348 CIVIC CENTER DRIVE
		CITY:			BEVERLY HILLS
		STATE:			CA
		ZIP:			90210

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Live Nation, Inc.
		DATE OF NAME CHANGE:	20060111

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CCE Spinco, Inc.
		DATE OF NAME CHANGE:	20050804
</SEC-HEADER>
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<TYPE>4
<SEQUENCE>1
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<DESCRIPTION>OWNERSHIP DOCUMENT
<TEXT>
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    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2025-12-15</periodOfReport>

    <notSubjectToSection16>1</notSubjectToSection16>

    <issuer>
        <issuerCik>0001335258</issuerCik>
        <issuerName>Live Nation Entertainment, Inc.</issuerName>
        <issuerTradingSymbol>LYV</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001560385</rptOwnerCik>
            <rptOwnerName>Liberty Media Corp</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>12300 LIBERTY BOULEVARD</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>ENGLEWOOD</rptOwnerCity>
            <rptOwnerState>CO</rptOwnerState>
            <rptOwnerZipCode>80112</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2025-12-15</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
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            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>50185694</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
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            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
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        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
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            <transactionDate>
                <value>2025-12-15</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
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                    <value>19459339</value>
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                <transactionPricePerShare>
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                    <value>D</value>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Held through wholly owned subsidiaries</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>2.375% Exch. Sr. Debentures due 2053 (obligation to sell)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F2"/>
                <footnoteId id="F3"/>
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            <transactionDate>
                <value>2025-12-15</value>
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                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionTotalValue>
                    <value>1150000000</value>
                </transactionTotalValue>
                <transactionPricePerShare>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F2"/>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F4"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>10961800</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Held through wholly owned subsidiary</value>
                    <footnoteId id="F5"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Forward sale contract (obligation to sell)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F6"/>
                <footnoteId id="F7"/>
                <footnoteId id="F8"/>
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            <transactionDate>
                <value>2025-12-15</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
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                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
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            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>10488960</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F6"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F6"/>
                <footnoteId id="F7"/>
                <footnoteId id="F8"/>
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            <expirationDate>
                <footnoteId id="F6"/>
                <footnoteId id="F7"/>
                <footnoteId id="F8"/>
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            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>10488960</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Held through wholly owned subsidiary</value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The transactions reported herein relate to the Split-Off as defined and described in the below Remarks section. In connection with such Split-Off, the Reporting Person's shares of common stock (the &quot;Common Stock&quot;) of the Issuer, 2.375% Exchangeable Senior Debentures due 2053 (the &quot;Debentures&quot;) and the Forward Contracts (defined below) were transferred to (or were retained by) Liberty Live Holdings, Inc. (&quot;Liberty Live&quot;). As the transfer (or retention) of each of the Common Stock, the Debentures and the Forward Contracts was part of a larger reorganization transaction involving the Reporting Person and Liberty Live, the Reporting Person does not admit that there was a sale for purposes of Section 16(b) of the Securities Exchange Act of 1934, as amended (the &quot;Exchange Act&quot;).</footnote>
        <footnote id="F2">Each $1,000 original principal amount of Debentures is exchangeable for the cash value of 9.5320 shares of Common Stock. The Reporting Person shall cash settle any exchange at the option of the holder or any purchase of the Debentures pursuant to a holder's put right.</footnote>
        <footnote id="F3">Each Debenture is exchangeable at the option of the holder during specified periods. Holders of the Debentures may put their Debentures to the Reporting Person on September 30, 2028, or prior thereto following the occurrence of a &quot;fundamental change,&quot; and the Debentures may be redeemed by the Reporting Person, (i) in whole or in part, on or after September 30, 2028 at any time, (ii) in whole, but not in part, prior to September 30, 2028, after the occurrence of certain conditions or events or (iii) in whole, but not in part, at any time after the Issuer declares or makes a dividend or distribution that, pursuant to the terms of the Debentures, would reduce the adjusted principal amount of the Debentures to $0.00 or such adjusted principal amount is otherwise reduced to $0.00. As a result of the Split-Off, the holders of the Debentures may put their Debentures to the issuer of the Debentures on January 29, 2026.</footnote>
        <footnote id="F4">The Debentures expire on September 30, 2053.</footnote>
        <footnote id="F5">At the effective time of the Split-Off, a supplemental indenture to the Debentures transferred the Debentures and the obligations thereunder to Liberty Live. Prior to the Split-Off, the Debentures were held directly by the Reporting Person.</footnote>
        <footnote id="F6">On May 28, 2025, LN Holdings 1, LLC (&quot;Counterparty&quot;) entered into agreements establishing the terms and conditions of variable forward transactions (the &quot;Forward Contracts&quot;) with four unaffiliated third party buyers (the &quot;Buyers&quot;). On May 28, 2025, the aggregate number of shares of common stock of the Issuer subject to the Forward Contracts was set at 10,488,960 (the &quot;Number of Shares&quot;) and the initial share price was set at $137.4500, pursuant to the terms of the Forward Contracts, as further described in Notes 7 and 8 below.</footnote>
        <footnote id="F7">The Forward Contracts obligate Counterparty to deliver to the Buyers, in the aggregate, up to the Number of Shares over a specified period ending in the first quarter of 2027 (the &quot;Valuation Period&quot;). Alternatively, Counterparty may choose to deliver an equivalent amount of cash based on a measure of the average share price over the Valuation Period. In exchange for assuming this obligation, Counterparty is entitled to elect to receive prepayment amounts of up to the present value at such time or times of approximately $1.15 billion, in the aggregate.</footnote>
        <footnote id="F8">Counterparty has agreed to pledge a number of shares of common stock of the Issuer equal to the Number of Shares (the &quot;Pledge Shares&quot;) to secure its obligations under the Forward Contracts, and will retain voting rights in the Pledge Shares during the term of the pledge. If Counterparty elects to receive prepayment amounts and elects share settlement, Counterparty will be obligated to deliver fewer than the Number of Shares if (and to the extent that) on trading days during the Valuation Period the average per share price is above $109.9600. As noted above, alternatively Counterparty may choose to deliver a cash amount in lieu of such shares.</footnote>
    </footnotes>

    <remarks>On December 15, 2025, the Reporting Person completed the split-off of its Liberty Live Group (the &quot;Split-Off&quot;), which was effected by the Reporting Person redeeming each share of its Series A Liberty Live common stock (&quot;LLYVA&quot;), Series B Liberty Live common stock (&quot;LLYVB&quot;) and Series C Liberty Live common stock (&quot;LLYVK&quot;) for one share of the corresponding series of Liberty Live Group common stock of Liberty Live, with no shares of LLYVA, LLYVB or LLYVK remaining outstanding. Prior to the completion of the Split-Off, the Reporting Person contributed to Liberty Live (or, to the extent such assets and liabilities were already held by Liberty Live or its subsidiaries, Liberty Live retained), among other assets and liabilities, (i) all of the shares of Common Stock beneficially owned by the Reporting Person, (ii) the Debentures and (iii) the Forward Contracts (collectively, the &quot;Contribution&quot;). As a result of the Split-Off, including the Contribution, (i) the Reporting Person ceased to have an equity interest in the Issuer and (ii) the Reporting Person ceased to be subject to the obligations of Section 16 of the Exchange Act with respect to the Issuer.</remarks>

    <ownerSignature>
        <signatureName>Liberty Media Corporation By: /s/ Brittany A. Uthoff Title: Vice President and Assistant Secretary</signatureName>
        <signatureDate>2025-12-16</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
