Live Nation’s shopping spree continues
Live Nation, the world’s preeminent live music and entertainment company, has continued its recent spate of acquisitions this month, buying Norway’s Tons of Rock music festival. It’s the latest acquisition in a streak of six, year to date. When you consider we’re just reaching the tail-end of February, that’s quite the run! The purchase of Tons of Rock will add to Live Nation’s Nordic holdings – a category that’s expanding quickly.
Live Nation’s share price has appreciated by 17% so far this year
Source: Yahoo Finance
Tons of Rock is Norway’s largest rock and heavy metal concert. It was launched in 2013, and since then it’s welcomed some of the genres’ biggest stars to the country: Ozzy Osbourne, Alice Cooper, Five Finger Death Punch, Black Sabbath, and more. This year, the festival is moving headquarters to Oslo (Norway’s capital) and will bring over headliners including Kiss, Volbeat and Def Leppard. Speaking about the move to Oslo, the festival’s manager and co-founder Jarle Kvale, said: “We are ready to take the next step in the festival’s journey and the line-up for the 2019 festival speaks for itself. After five successful years in Halden, we saw potential for further growth.”
Live Nation Norway’s head promoter, Martin Nielsen, added: “We have worked with Tons of Rock from the very beginning and are excited about our future with the festival. The Tons of Rock team have demonstrated an outstanding commitment to the festival and to audience experience.”
Earlier in the month, Live Nation Finland added Blockfest, a major hip-hop festival in the country, to its line-up. And just days before buying Tons of Rock, the company acquired a majority stake in Neste, a “full-service event marketing agency” based in the US.
Dominion holds Live Nation in its Global Trends Luxury Fund.
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