Live Nation Entertainment Acquires Majority Stake in BDG Music
TALLINN, Estonia, June 19, 2013 /PRNewswire/ -- Live Nation Entertainment, the world's leading live entertainment company, has acquired a majority stake in BDG Music Group, the Baltic region's largest concert promotion company.
Since early 2012, BDG Music has produced more than 50 shows in the Baltics and sold more than 200,000 tickets. The group will retain its current management team, although upon completion of the deal, it will be renamed Live Nation Baltics. Full terms of the deal were not disclosed.
Michael Rapino, President and Chief Executive Officer of Live Nation Entertainment, said: "With this acquisition we now have operations in 43 countries. This further demonstrates our ongoing commitment to expanding our global footprint, which enables us to bring live entertainment to even more fans around the world."
Thomas Johansson, Chairman of International Music of Live Nation Entertainment, commented: "We are delighted to welcome BDG into the Live Nation family. BDG's extensive network in Estonia and Lithuania will strengthen our position in Eastern and Central Europe and will offer our artists a full run around the Baltic Sea."
Peeter Rebane, one of the founders of BDG Music, said: "BDG has more than 18 years' experience in the business of creating unique shows and events for the public and providing superior entertainment-related services. Being part of the world's leading entertainment company will create even better opportunities for local music fans to see world class concerts in future."
This year Live Nation Baltics is on the bill for major concerts featuring Robbie Williams and Depeche Mode, among others.
About Live Nation Entertainment:
Live Nation Entertainment (NYSE: LYV) is the world's leading live entertainment company comprised of four market leaders: Ticketmaster.com, Live Nation Concerts, Artist Nation Management and Live Nation Media/Sponsorship. For additional information, visit www.livenation.com/investors.
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SOURCE Live Nation Entertainment