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Cohl Out At Live Nation

Livenation221205_2Michael Cohl has "transitioned to a consultant role" from his post as CEO of  Live Nation's Artists division, effective immediately and resigned as a member of the company's Board of Directors.

Cohl is responsible for the 360 deals with JAY-Z and Madonna and the company is also nearing completion of a long-term agreement with U2. But insiders say that Cohl's deals were too costly and the statement released by Live Nation hints at that. " We are committed to acquiring additional artists' rights beyond the concert tour..." said CEO  Micahel Rapino. "At the same time, we continue to take a disciplined financial approach and are focused on expanding cash flow and margins and increasing value for shareholders."

Oh, the joys of running a publicly traded company.