Live Nation Entertainment Inc. said on Friday that director John Malone has been named chairman, and confirmed that former Chairman Barry Diller has stepped down.

Diller's planned exit was widely reported last month. Live Nation said Diller made his resignation official at a board meeting on Thursday afternoon.

Diller oversaw the merger of ticket seller Ticketmaster and Live Nation, the world's largest concert promoter.

Subscribe to billboard biz to continue reading this article and thousands more. subscribers get:
  • 24/7 coverage of every genre and sector of the business with over 150 exclusive charts
  • Bulletin: Breaking stories, chart info and analysis sent directly to your inbox every weekday
  • Billboard Magazine iPad Edition: An enhanced version of the magazine with video, photo galleries and playable charts
  • Archives: A rich history of articles and exclusive charts

Join now or Log In