Former Live Nation chair Diller sells 2.53 million shares

CHICAGO (BestGrowthStock) – Barry Diller, the former chairman of Live Nation Entertainment (LYV.N: ), sold 2.53 million shares in the company, according to a government filing.

In a filing with the U.S. Securities and Exchange Commission on Thursday, Live Nation said Diller, the chief executive of IAC/Interactive Corp (IACI.O: ), still owns 10.4 millions shares of Live Nation.

Diller sold the shares for $9.62 each, making the total sale worth $24.3 million.

Representatives from IAC and Live Nation were not immediately reachable for comment.

Diller, who became non-executive chairman of the struggling concert promoter and ticketing company after the February merger of Live Nation and Ticketmaster Entertainment, stepped down in September after a brief and controversial stint.

Diller said in a statement in September he had expected his time as chairman to be short through the transition and integration of the two companies.

Live Nation this week said it earned 30 cents per share in the third quarter on revenue of $1.84 billion.

(Reporting by Kyle Peterson; Editing by Vicki Allen)

Former Live Nation chair Diller sells 2.53 million shares