LYV - Live Nation: Heavy Debt Burden
Live Nation Entertainment, Inc. (LYV) is one of the largest live event promoters in the world with a reported 580 million fans as of December 2019. The company has experienced phenomenal growth over the last three years, with revenues and profits growing by 19% and 1,421% respectively. However, LYV is a highly indebted company, with more than 80% of its assets being financed by leverage. There has also been a 25% decline in its operating cash flows since 2017. The company's situation has worsened with the outbreak of COVID-19 that has necessitated the cancellation of