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Live Nation Buys Stake in Music Apparel Firm

From Bloomberg News

Live Nation Inc., the concert promoter spun off by Clear Channel Communications Inc., acquired a majority stake in apparel company Trunk Ltd. to sell products to music fans.

Trunk has 60 apparel licenses for music stars including the Rolling Stones, Jimi Hendrix, Pink Floyd and Blondie, Beverly Hills-based Live Nation said. Terms weren’t disclosed.

The acquisition is the third since Live Nation became a separate public company.

Last week Live Nation agreed to buy House of Blues Entertainment Inc., which operates the House of Blues chain of clubs, for $350 million.

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