LN earnings -- ouch

THE SUMMER OF THEIR DISCONTENT: Live Nation’s annual earnings report quantified the damage done by a brutal summer in the touring business. The company’s net loss for fiscal 2010 more than tripled to $228 million, or $1.39 per share, from $60 million, or 73 cents per share, a year ago. While LN didn’t break out the quarterly loss, its cumulative net loss over nine months through September 30 was $95 million. Quarterly revenue fell 2% to $1.24 billion and was down 9% for the year at $5.06 billion. In a statement, Michael Rapino acknowledged that the economic environment "remains challenging given pressure on the consumer," but said he was encouraged by ticket sales trends so far in 2011. (3/1a)