Michael Rapino (Live Nation / Rainer Hosch)

MALIBU (CelebrityAccess) — Live Nation CEO Michael Rapino and his wife, actress Jolene Blalock have reportedly settled into comfortable new digs in Malibu.

According to the Los Angeles Times, a trust associated with the couple dropped a cool $11 million for a posh beachfront contemporary which had been on the market for just three weeks.

Per the Times, the 3,305 square property featured an open floor plan with beamed ceilings and wall-to-wall glass overlooking the ocean.

The house includes a master suite with a walk-in closet and two other bedrooms. The property also features a detached guesthouse and a courtyard for entertaining, the Times reported.

Records show the home last sold three years ago for $7.7 million.

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