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Journey will receive the "Legend of Live" award at the 2011 Billboard Touring Awards, which are taking place November 10 at the Roosevelt Hotel in New York.

The awards are part of the Billboard Touring Conference, happening on the 9th and 10th.

Billboard reports the award honors groups or individuals who have made significant and lasting contributions to live music and the touring business, and acknowledges the recipients' commitment to the art of performing live and reaching fans through the concert experience.

Journey remains a hugely successful touring band, having sold nearly 1 million tickets and averaging more than $600,000 a night at the box office on this year's "Eclipse" tour, according to Billboard Boxscore.

"I'm so honored to come to New York to represent the band for all the years and dedication that everyone's given," Journey guitarist and founding member Neal Schon says of the honor.

Previous award recipients include Rush (2010), Ozzy Osbourne (2009), the Allman Brothers Band (2008), pioneering agent Frank Barsalona (2007), Sir Elton John (2006), Cellar Door Concerts founder Jack Boyle (2005) and promoter Michael Cohl (2004).

Journey will release a new compilation, “Greatest Hits Vol. 2” on November 1; the package features singles and album tracks recorded between 1978 and 1996.

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