Live Nation would benefit from going private: Malone (Reuters)

SUN VALLEY, Idaho (Reuters)-Live Nation Entertainment (LYV.N), the world's biggest concert promotions business, would benefit from a private account, according to the company's largest shareholder.

Entertainment cable TV Magnate John Malone said Live Nation, which is struggling with a weak economy of the United States following a drawn-out process of merger might turn around their business more effectively into private hands.

His comments follow a report by the New York Post, last month that Live Nation Executive Chairman Irving Azoff is considering taking the company private.

"There are issues that would have been better as a private company. If it is feasible is a function of how the major shareholders and management feels alone and the financing of a deal, "said Malone.

Live Nation Entertainment was created in February 2010 through the merger of the largest concert promoter, Live Nation, TicketMaster entertainment, the world's leading ticketing company, which in turn owned Frontline Management, which deals with more than 200 artists.

It was expected that the concentration at issue would create a dominant undertaking in live shows, enjoying growth by increasing transfer of value from the decline of recorded music for live music.

But since the deal was cleared by U.S. regulators, live entertainment has slowed because of a weak global economy.

Yet this has not dissuaded Malone by doubling down on Live Nation, that he and his Lieutenant, Liberty Media CEO Greg Maffei, see as an opportunity of great value.

Malone, through his holding company Liberty Media, now has about 21 percent of float outstanding Live Nation according to a regulatory filing on 28 June.

The two largest shareholders are the Atlanta-based funds Shapiro Capital Management and New York-based Tiger Global Management, according to documents filed in March.

"It would probably be good for society to be private, for a period of time to settle down and consolidate operations," said Malone, speaking on the sidelines of the Conference Allen & Co for media, technology and financing deal-magnates.

Live Nation wasn't immediately available for comment.

Malone said it was important to get Live Nation working smoothly and generate predictable financial results.

"This would probably be improved if they were private. I'm sure that Irving, "said Malone.

(Reporting by Yinka Adegoke; Editing by David Hulmes)

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