Business Developments
In January 2008, it is being reported that Azoff is working with former New Kids on the Block alumni Jordan Knight, Joey McIntyre, Jonathan Knight, Danny Wood and Donnie Wahlberg on a 'reunion' album.
On March 27, 2008, Guns N' Roses frontman Axl Rose announced that Azoff and Andy Gould are the new management for Guns N' Roses.
It was announced on October 1, 2008, that Azoff will be managing English singer Morrissey. On January 6, 2010, Morrissey discontinued his relationship with Azoff and Front Line Management Group.
In October 2008, ticketing and marketing company Ticketmaster announced that they would acquire artist management company Front Line Management Group Inc.. As part of the deal, Irving Azoff, founder and chief executive officer of Front Line, became Chief Executive Officer of Ticketmaster.
In February 2010, Johnny Gill announced that he and the rest of the members of New Edition will sign with Azoff for their second reunion and several solo albums.
Ticketmaster issued restricted stock awards to Mr. Azoff representing approximately 4.5% of Ticketmaster's stock. The deal includes $35 million of restricted Ticketmaster preferred stock that is convertible at Azoff's election into 1.75 million shares of Ticketmaster common stock, and 1 million shares of restricted Ticketmaster common stock.
Ticketmaster also agreed to grant Azoff options to purchase 2 million shares of Ticketmaster common stock at an exercise price of $20 per share.
In May 2010, Guns N' Roses-singer Axl Rose filed a $5 million lawsuit against former manager Azoff, saying that Azoff sabotaged sales of Guns N' Roses’ comeback album and lied about a potential “super tour” with Van Halen (which Azoff manages) as part of a scheme to force Rose to reunite with his former band members. Rose said in his suit that Azoff failed to promote his 2008 album, “Chinese Democracy,” and deliberately mishandled concert dates, “forcing Rose into a position where he would have no choice but to reunite with the original members of Guns N’ Roses for a reunion tour.
In January 2011 it was confirmed that Azoff is now managing The Cab.
Read more about this topic: Irving Azoff
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