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AUSTRALIA'S AUSTEREO GROUP CANCELS FUTURE M ONE MUSIC CONCERTS.
SYDNEY, Nov 1 Asia Pulse - The M One series of music concerts has proven to be unprofitable and, as such, Broadcaster Austereo Group Ltd (ASX:AEO) has said it will no longer run the shows.
However, the company said it would continue its Rumba! concert series.
Austereo said it lost A$4.9 million (US$2.72 million) on the Sydney, Brisbane and Melbourne M One concerts, staged last month, which included a line-up of musical acts including Garbage, Midnight Oil, The Goo Goo Dolls, The Tea Party and Billy Idol.
"Despite a great Australian and international line-up and strong audience support, the M One model ...
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Source: HighBeam Research, AUSTRALIA'S AUSTEREO GROUP CANCELS FUTURE M ONE MUSIC CONCERTS.