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Travis Scott Tragedy Puts Live Nation’s Music-Festival Bet to the Test

Travis Scott Tragedy Puts Live Nation’s Music-Festival Bet to the Test

Live Nation Entertainment Inc. relied heavily on outdoor events to build back its business this year. The incident at a Travis Scott festival over the weekend is providing a test of that strategy.

Live Nation is the world’s largest concert promotion company and is the owner of the Astroworld festival’s promoter. On Monday, its shares fell 5.4% in the first day of trading after the festival was cut short due to a crowd surge, eight deaths and multiple injuries.

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