Live Nation Entertainment, Inc. (LYV) and News Corporation (NWSA) are two influential players in the entertainment industry, each with distinct yet overlapping market footprints. LYV excels in live events and ticketing, while NWSA dominates media content and digital distribution. Their innovative approaches to audience engagement and revenue diversification make this comparison compelling. In this article, I will help you determine which company presents the most attractive investment opportunity in 2026.
Table of contents
Companies Overview
I will begin the comparison between Live Nation Entertainment, Inc. and News Corporation by providing an overview of these two companies and their main differences.
Live Nation Entertainment, Inc. Overview
Live Nation Entertainment, Inc. operates as a live entertainment company focused on concerts, ticketing, and sponsorship & advertising. It promotes live music events in owned or third-party venues, manages music venues, produces festivals, and offers artist management services. The company also provides ticketing operations and sells advertising related to live music and events. Headquartered in Beverly Hills, CA, it owns or leases 259 venues globally.
News Corporation Overview
News Corporation is a media and information services company that creates and distributes content across multiple platforms including newspapers, digital media, and subscription services. It operates six segments covering news media, publishing, real estate, and video services. The company owns various newspapers and brands such as The Wall Street Journal and The Times, and provides sports and entertainment content to pay-TV and streaming subscribers. It is headquartered in New York City, NY.
Key similarities and differences
Both companies operate within the communication services sector but differ in focus: Live Nation centers on live entertainment events and ticketing, while News Corporation emphasizes media content creation and distribution across print and digital platforms. Live Nation’s revenue depends heavily on live events and venue management, whereas News Corp’s income is diversified across publishing, digital real estate, and subscription services. Both maintain significant employee bases and operate internationally.
Income Statement Comparison
The table below presents a side-by-side comparison of key income statement metrics for Live Nation Entertainment, Inc. and News Corporation for their most recent fiscal years.
| Metric | Live Nation Entertainment, Inc. (LYV) | News Corporation (NWSA) |
|---|---|---|
| Market Cap | 34.6B | 15.0B |
| Revenue | 23.2B (2024) | 8.5B (2025) |
| EBITDA | 1.62B (2024) | 1.42B (2025) |
| EBIT | 1.07B (2024) | 956M (2025) |
| Net Income | 896M (2024) | 1.18B (2025) |
| EPS | 2.77 (2024) | 2.08 (2025) |
| Fiscal Year | 2024 | 2025 |
Income Statement Interpretations
Live Nation Entertainment, Inc.
Live Nation’s revenue showed strong growth overall, reaching $23.2B in 2024, with net income improving significantly to $647M from prior losses. Gross margin was stable at 25.17%, while EBIT margin slightly declined. The latest year saw slower revenue growth of 1.9%, EBIT dropped 15.7%, but net margin and EPS surged, reflecting improved profitability dynamics.
News Corporation
News Corp’s revenue declined modestly over the period, totaling $8.45B in 2025, yet net income rose sharply to $1.18B. Margins remained robust, with a perfect gross margin of 100% and an EBIT margin of 11.3%. The most recent year saw a 2.4% revenue increase, EBIT growth of 19.4%, and strong net margin expansion, highlighting operational efficiency gains.
Which one has the stronger fundamentals?
Both companies demonstrate favorable income statement evaluations, with News Corp leading in margin strength and EBIT growth, while Live Nation excels in revenue and net income growth over the longer term. News Corp’s superior net margin and EBIT margin suggest stronger profitability, but Live Nation’s rapid revenue and EPS improvements indicate robust expansion. Each shows solid fundamentals with distinct strengths.
Financial Ratios Comparison
The table below presents a side-by-side comparison of key financial ratios for Live Nation Entertainment, Inc. (LYV) and News Corporation (NWSA) based on their most recent fiscal data.
| Ratios | Live Nation Entertainment, Inc. (LYV) | News Corporation (NWSA) |
|---|---|---|
| ROE | 5.17% | 13.45% |
| ROIC | 7.71% | 5.16% |
| P/E | 33.25 | 14.30 |
| P/B | 172.0 | 1.92 |
| Current Ratio | 0.99 | 1.84 |
| Quick Ratio | 0.99 | 1.72 |
| D/E (Debt to Equity) | 47.74 | 0.34 |
| Debt-to-Assets | 42.1% | 18.96% |
| Interest Coverage | 2.53 | 95.6 |
| Asset Turnover | 1.18 | 0.55 |
| Fixed Asset Turnover | 5.70 | 3.99 |
| Payout ratio | 0% | 15.68% |
| Dividend yield | 0% | 1.10% |
Interpretation of the Ratios
Live Nation Entertainment, Inc.
Live Nation shows a mixed ratio profile with several unfavorable indicators such as a low net margin of 3.87% and a high price-to-book ratio of 172.0, suggesting potential overvaluation risks. Its current ratio is below 1, indicating possible liquidity concerns. However, a strong return on equity at 517.3% and solid asset turnover ratios highlight operational efficiency. The company does not pay dividends, likely due to negative free cash flow to equity and a reinvestment strategy focused on growth and venue operations.
News Corporation
News Corporation presents a favorable ratio set with a solid net margin of 13.96% and a price-to-earnings ratio of 14.3, indicating reasonable valuation. Liquidity ratios are strong, with a current ratio of 1.84 and quick ratio of 1.72, supporting financial stability. The debt-to-equity ratio is low at 0.34, and interest coverage is robust at 95.6, reflecting low financial risk. The company pays dividends, with a modest 1.1% yield, supported by positive free cash flow and a balanced payout approach.
Which one has the best ratios?
News Corporation displays a generally stronger and more balanced ratio profile, with favorable profitability, liquidity, and solvency indicators and a sustainable dividend policy. Live Nation, while operationally efficient, faces concerns in valuation, liquidity, and cash flow, with no dividend payouts. Overall, News Corporation’s ratios appear more favorable for financial stability and shareholder returns.
Strategic Positioning
This section compares the strategic positioning of Live Nation Entertainment, Inc. and News Corporation, including market position, key segments, and exposure to disruption:
Live Nation Entertainment, Inc.
- Leading live entertainment company; faces competition in venues and ticketing markets.
- Main drivers: Concerts ($19B), Ticketing ($3B), Sponsorship & Advertising ($1.2B).
- Moderate exposure from ticketing software and digital advertising in live events.
News Corporation
- Media and information services leader with competitive pressure in digital and publishing sectors.
- Diverse segments: News & Information, Dow Jones, Book Publishing, Digital Real Estate, Subscription Video.
- Exposure through digital content distribution and subscription video services amid media tech shifts.
Live Nation Entertainment, Inc. vs News Corporation Positioning
Live Nation has a concentrated focus on live entertainment and ticketing, benefiting from venue ownership and live event promotion. News Corp is more diversified across media, publishing, and digital services, spreading market risks but facing varied industry challenges.
Which has the best competitive advantage?
Both companies are slightly unfavorable in MOAT, shedding value despite growing profitability. Live Nation shows stronger ROIC growth, but neither currently demonstrates a clear sustainable competitive advantage based on ROIC versus WACC trends.
Stock Comparison
The stock price movements of Live Nation Entertainment, Inc. (LYV) and News Corporation (NWSA) over the past 12 months reveal distinct trading dynamics, with LYV showing substantial gains and higher volatility, while NWSA exhibits near stability with minor fluctuations.
Trend Analysis
Live Nation Entertainment, Inc. (LYV) experienced a strong bullish trend over the past year, with a 56.16% price increase and accelerating momentum. The stock ranged between 88.75 and 173.73, with notable volatility reflected in a 23.63 standard deviation.
News Corporation (NWSA) showed a marginal 0.42% price increase over the past year, maintaining a neutral to mildly bullish position with decelerating momentum. Price fluctuated between 24.02 and 30.62 with low volatility at 1.5 standard deviation.
Comparing the two, LYV delivered the highest market performance with a significantly larger positive price change and acceleration, while NWSA’s stock trend remains almost flat and stable.
Target Prices
The consensus target prices from recognized analysts indicate moderate upside potential for both Live Nation Entertainment, Inc. and News Corporation.
| Company | Target High | Target Low | Consensus |
|---|---|---|---|
| Live Nation Entertainment, Inc. | 195 | 164 | 180.13 |
| News Corporation | 45 | 16 | 33.33 |
Analysts expect Live Nation’s stock to trade significantly higher than the current price of $148.85, while News Corporation’s consensus target of $33.33 suggests potential appreciation from its current $26.54 level.
Analyst Opinions Comparison
This section compares analysts’ ratings and grades for Live Nation Entertainment, Inc. (LYV) and News Corporation (NWSA):
Rating Comparison
LYV Rating
- Rating: C+, considered Very Favorable by analysts.
- Discounted Cash Flow Score: 1, rated Very Unfavorable.
- ROE Score: 5, reflecting a Very Favorable efficiency in equity use.
- ROA Score: 4, considered Favorable for asset utilization.
- Debt To Equity Score: 1, seen as Very Unfavorable financial risk.
- Overall Score: 2, assessed as Moderate overall financial health.
NWSA Rating
- Rating: B+, considered Very Favorable by analysts.
- Discounted Cash Flow Score: 3, rated Moderate.
- ROE Score: 4, rated Favorable for equity profit generation.
- ROA Score: 5, rated Very Favorable for asset earnings efficiency.
- Debt To Equity Score: 2, rated Moderate for balance sheet strength.
- Overall Score: 3, assessed as Moderate overall financial health.
Which one is the best rated?
Based strictly on provided data, NWSA holds a higher overall rating (B+ vs. C+) and better scores in discounted cash flow, ROA, and debt-to-equity metrics. LYV excels in ROE but has weaker financial risk and valuation scores.
Scores Comparison
Here is a comparison of the Altman Z-Score and Piotroski Score for each company:
Live Nation Entertainment, Inc. Scores
- Altman Z-Score: 2.12, indicating moderate bankruptcy risk in the grey zone.
- Piotroski Score: 5, reflecting average financial strength.
News Corporation Scores
- Altman Z-Score: 2.35, indicating moderate bankruptcy risk in the grey zone.
- Piotroski Score: 7, reflecting strong financial strength.
Which company has the best scores?
News Corporation has higher scores overall, with a better Altman Z-Score and a stronger Piotroski Score, indicating comparatively stronger financial health than Live Nation Entertainment.
Grades Comparison
The grades comparison for Live Nation Entertainment, Inc. and News Corporation by leading grading firms is as follows:
Live Nation Entertainment, Inc. Grades
The table below summarizes recent grades from major financial institutions for Live Nation Entertainment, Inc.:
| Grading Company | Action | New Grade | Date |
|---|---|---|---|
| Evercore ISI Group | Maintain | Outperform | 2025-12-23 |
| Guggenheim | Maintain | Buy | 2025-11-18 |
| Evercore ISI Group | Maintain | Outperform | 2025-11-05 |
| Guggenheim | Maintain | Buy | 2025-11-05 |
| Roth Capital | Maintain | Buy | 2025-11-05 |
| JP Morgan | Maintain | Overweight | 2025-11-05 |
| Morgan Stanley | Maintain | Overweight | 2025-11-05 |
| Susquehanna | Maintain | Positive | 2025-11-03 |
| Deutsche Bank | Maintain | Buy | 2025-10-23 |
| Citigroup | Maintain | Buy | 2025-10-23 |
The overall trend for Live Nation shows consistent buy and outperform ratings without downgrades, indicating stable positive sentiment from analysts.
News Corporation Grades
The table below summarizes recent grades from major financial institutions for News Corporation:
| Grading Company | Action | New Grade | Date |
|---|---|---|---|
| JP Morgan | Maintain | Overweight | 2025-11-25 |
| Guggenheim | Maintain | Buy | 2025-11-13 |
| JP Morgan | Maintain | Overweight | 2025-08-20 |
| Macquarie | Downgrade | Neutral | 2025-08-06 |
| Morgan Stanley | Maintain | Overweight | 2025-04-11 |
| UBS | Upgrade | Buy | 2025-02-04 |
| Guggenheim | Maintain | Buy | 2025-01-22 |
| Loop Capital | Maintain | Buy | 2024-12-23 |
| Loop Capital | Maintain | Buy | 2024-12-09 |
| Guggenheim | Maintain | Buy | 2024-11-12 |
News Corporation exhibits mostly buy and overweight ratings but includes a downgrade to neutral, suggesting some mixed analyst sentiment.
Which company has the best grades?
Live Nation Entertainment, Inc. has received consistently positive and stable grades, primarily outperform and buy ratings, whereas News Corporation shows a strong buy consensus but some recent downgrade activity. Investors might interpret Live Nation’s steadier grades as a sign of stronger analyst confidence.
Strengths and Weaknesses
Below is a comparison of key strengths and weaknesses for Live Nation Entertainment, Inc. (LYV) and News Corporation (NWSA) based on the most recent financial and operational data.
| Criterion | Live Nation Entertainment, Inc. (LYV) | News Corporation (NWSA) |
|---|---|---|
| Diversification | Moderate, focused on concerts, ticketing, and sponsorships with growing concert revenues (19B in 2024) | Well diversified across digital real estate, news, video subscription, and publishing (segments ~1.8B-2.3B each) |
| Profitability | Low net margin (3.87%, unfavorable), ROIC 7.71% slightly below WACC 8.24% (value destroying, but improving) | Strong net margin (13.96%, favorable), ROIC 5.16% above WACC 7.42% (value destroying but improving) |
| Innovation | Moderate innovation reflected in growing ROIC trend (+133%) but challenged by high P/E (33.25) and P/B (172) ratios | Solid innovation with favorable ratios including P/E (14.3) and strong interest coverage (95.6), supporting sustainable growth |
| Global presence | Strong global concert and event presence, leading ticketing platform | Global media and digital services footprint, multiple business segments supporting international reach |
| Market Share | Leading market share in live events and ticketing industry | Significant presence in news and digital real estate, competitive in subscription video and publishing sectors |
Key takeaways: Both companies are currently value destroyers with ROIC below WACC, but each shows improving profitability trends. LYV leads in live entertainment with high revenue growth yet faces profitability and leverage challenges. NWSA presents stronger financial health and diversification, making it a more stable choice for risk-conscious investors.
Risk Analysis
Below is a comparative table highlighting the key risks for Live Nation Entertainment, Inc. (LYV) and News Corporation (NWSA) based on the latest financial and operational data from 2024-2025.
| Metric | Live Nation Entertainment, Inc. (LYV) | News Corporation (NWSA) |
|---|---|---|
| Market Risk | High beta (1.20) indicates elevated volatility in entertainment sector. | Moderate beta (0.97), less volatile media sector exposure. |
| Debt level | Elevated debt-to-equity ratio (~48%), moderate interest coverage (3.27x). | Low debt level (0.34 D/E), strong interest coverage (95.6x). |
| Regulatory Risk | Moderate, with venue operations subject to local regulations. | Moderate, with media content and data privacy regulations. |
| Operational Risk | High due to dependence on live events and ticketing platforms. | Moderate, diversified across publishing, digital, and broadcast. |
| Environmental Risk | Moderate, linked to event footprint and venue operations. | Low, primarily digital/media operations with smaller physical footprint. |
| Geopolitical Risk | Moderate, international venues and events exposure. | Moderate, global media distribution sensitive to geopolitical climates. |
In synthesis, Live Nation faces the most impactful risks in market volatility and elevated debt burden, which could strain liquidity under downturns. News Corporation exhibits stronger financial stability with lower debt and diversified operations, though regulatory and geopolitical factors remain considerations. Investors should weigh LYV’s operational leverage against NWSA’s steadier profile for balanced risk management.
Which Stock to Choose?
Live Nation Entertainment, Inc. (LYV) shows favorable income growth overall, with improving profitability and a strong ROE of 517.3%. However, several financial ratios such as high debt-to-equity (47.74) and low current ratio (0.99) appear unfavorable, leading to a slightly unfavorable global ratio evaluation. Its rating stands at C+ with moderate overall scores and an Altman Z-Score in the grey zone.
News Corporation (NWSA) presents favorable income statement metrics, including a strong net margin of 13.96% and steady EBIT margin growth. Its financial ratios are mostly favorable, featuring low debt-to-equity (0.34) and solid liquidity ratios, contributing to a favorable global ratio opinion. The company holds a better rating at B+ with a strong Piotroski score and an Altman Z-Score also in the grey zone.
Considering ratings and overall financial evaluations, NWSA might appear more favorable for investors seeking stability and financial strength, while LYV’s improving profitability and higher ROE might appeal to those with a tolerance for higher financial leverage and risk. The choice could depend on the investor’s preference for growth versus stability and risk management.
Disclaimer: Investment carries a risk of loss of initial capital. The past performance is not a reliable indicator of future results. Be sure to understand risks before making an investment decision.
Go Further
I encourage you to read the complete analyses of Live Nation Entertainment, Inc. and News Corporation to enhance your investment decisions:
