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The two live entertainment promotion firms that overwhelmingly dominate the global concert industry suspended all touring activities on Thursday because of the coronavirus pandemic.

Live Nation Entertainment and AEG Presents, the leading promoters of events from massive festivals such as Coachella Valley Music and Arts Festival in Indio to hundreds of shows annually at sports arenas, theaters and clubs, both said they would halt events beginning this weekend at least through the end of March.

“This is something none of us have ever seen,” said a longtime concert industry executive who asked not to be identified. “We’ve never dealt with anything like this — not Ebola, not SARS. … It’s just a mess.”

A vast numbers of musicians will pause their tours while promoters, artists, mangers, booking agents and others determine their next steps.

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