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CNBC EXCLUSIVE: CNBC TRANSCRIPT: CNBC'S JULIA BOORSTIN INTERVIEWS LIVE NATION CEO MICHAEL RAPINIO, ON CNBC'S "THE CALL" TODAY

CNBC EXCLUSIVE: CNBC TRANSCRIPT: CNBC'S JULIA BOORSTIN INTERVIEWS LIVE NATION CEO MICHAEL RAPINIO, ON CNBC'S "THE CALL" TODAY

WHEN: Today, Friday, November 7th at 11:45 AM ET

WHERE: CNBC's "The Call"

Following is the unofficial transcript of a CNBC EXCLUSIVE interview with Live Nation CEO Michael Rapino, on CNBC, airing on "The Call"

All references must be sourced to CNBC.

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CNBC's Melissa Francis: CNBC'S JULIA BOORSTIN WITH A CNBC EXCLUSIVE IN LOS ANGELES WITH A SPECIAL GUEST. JULIA

Julia Boorstin: LIVE NATION'S THIRD-QUARTER PROFIT MORE THAN TRIPLED ON ITS STRONG CONCERT BUSINESS AS WELL AS ITS MOTORSPORTS DIVISION AND AS WELL A TAX BENEFIT. I'M JOINED HERE TODAY BY THE CEO OF LIVE NATION MICHAEL RAPINO. THANKS FOR JOINING US. LIVE NATION ENJOYED MORE CONCERTS AND MORE PEOPLE WENT TO THE CONCERTS. DID YOU SEE ANY IMPACT OF THE ECONOMIC SLOWDOWN?

Michael Rapino: WE HAVEN'T AT ALL. THIS SUMMER WAS UP DOUBLY DIGITS OVER LAST YEAR, MORE ATTENDANTS AND MORE CONCERTS, MADONNA SHOW A SOLDOUT STADIUM DOWN THE STREET. SHOWS SEEM TO BE SELLING AS FAST AND AS HARD AS EVER.

Boorstin: SINCE THAT QUARTER ENDED IN OCTOBER AND EARLY NOVEMBER, ARE YOU SEEING ANY CHANGES IN CONSUMER TRENDS IN TERMS OF WHEN PEOPLE ARE BUYING CONCERT TICKETS OR ARE THEY WAITING LONGER?

Rapino: WE HAVEN'T YET. 80% OF OUR SHOWS ARE DONE DURING THE SUMMER SO THIS IS OUR SLOW SEASON. WHAT WE HAVE ON SALE RIGHT NOW AC/DC, COLDPLAY, EVERYTHING ON SALE SEEMS TO BE DOING WELL. WE HAVEN'T SEEN ANYTHING YET. WE PROBABLY WOULDN'T REALLY SEE THE EFFECT UNTIL NEXT APRIL.

Boorstin: WHAT IS YOUR PROJECTION FOR NEXT YEAR? WILL THE ECONOMY BE SO BAD THAT PEOPLE WON'T WANT TO GO TO CONCERTS ANYMORE?

Rapino: NO. CONCERTS OVER TIME HAVE ALWAYS HELD UP TO THE RECESSION. WE GO TO ONE OR TWO SHOWS A YEAR, ABOUT A $50 PURCHASE FOR A CONSUMER, AND FROM ALL OUR RESEARCH THE FAN LOVES TO GET OUT, HAS TO GET OUT, THOSE TAKE THEIR KIDS TO THE JONAS BROTHERS, HAS TO TAKE THEIR WIFE TO A MADONNA SHOW.SOMETHING THAT PEOPLE CAN GET OUT AND STILL AFFORD.

Francis: THIS IS MELISSA FRANCIS BACK IN THE STUDIO. DO YOU THINK YOU'LL HAVE TO CUT PRICES DOWN THE ROAD AS THE ECONOMY SLOWS DOWN A BIT?

Rapino: ABSOLUTELY. I THINK WE'LL HAVE TO LOOK NEXT YEAR AT LOOKING AT ALL DISCOUNTS AND WAYS TO MAKE SURE THAT THE CONSUMER GETS TO THAT SHOW AND BE REALLY SENSITIVE TO THE MARKET AND THE PRICING.

Francis: WHY DO YOU THINK YOUR STOCK IS GETTING HAMMERED TODAY?

Rapino: THERE'S SO MUCH CLATTER AND ABOUT MUSIC AND DVD AND THEME PARKS DOWN, WE GET LUMPED INTO THAT CATEGORY.

Boorstin: MICHAEL, IN JANUARY YOU'RE LAUNCHING A WHOLE NEW BUSINESS AND TAKING ON TICKET MOISTER WHO HAS BEEN YOUR PARTNER AND LAUNCHING A TICKET BUSINESS? WHY IS NOW THE RIGHT TIME TO GO INTO THIS WHOLE NEW CATEGORY?

Rapino: A GREAT CATEGORY FOR US, A 25% MARGIN BUSINESS AND WE THINK THAT THE FAN AND THE ARTIST NEED A GREAT NUMBER TWO COMPETITOR TO A LONGSTANDING TICKET MOISTER.

Boorstin: SO YOU'RE OPTIMISTIC FOR NEXT YEAR?

Rapino: ABSOLUTELY.

Boorstin: THANKS SO MUCH





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