Live Nation CEO Rapino Signs Accord Extending Term Through 2017

Live Nation Entertainment Inc. (LYV) said it signed an amended contract with President and Chief Executive Officer Michael Rapino extending his tenure with the world’s biggest concert promoter and ticket seller through 2017.

The existing accord with Rapino, 47, was scheduled to expire on May 31, 2014, according to a regulatory filing today. Rapino will receive $2.3 million in annual base pay starting Jan. 1, 2013. He was granted options for 3.6 million shares at $8.77 each, the company said.

To contact the reporter on this story: Andy Fixmer in Los Angeles at afixmer@bloomberg.net

To contact the editor responsible for this story: Rob Golum at rgolum@bloomberg.net