Garner axed

GARNER GONE: Live Nation has disclosed the exit of CEO Global Music Jason Garner, Ethan Smith reported in the Wall Street Journal. Garner, who had been with the company for more than seven years, is entitled to around $3 million in cash, plus stock valued at about $4 million, based on info in SEC filings. His responsibilities will be shared by veteran concert promoters Mark Campana and Bob Roux (splitting North America), and Rick Franks (strategy for concert tours). "The economy has impacted our industry in 2010 and it looks like it will be another factor in 2011," Live Nation chief Michael Rapino wrote in an internal memo Wednesday announcing the new appointment. "So we need to focus on the right acts in the right markets with the most efficient organization." Rapino’s email didn't mention Garner or his departure, which was disclosed in a regulatory filing early the same morning. (11/4a)