• Sign Up
Jump to content
×
×
  • Create New...

  • Live Nation Set to Acquire 51% of OCESA, Mexico’s Largest Concert Promoter


    Ravebot
     Share

    Live Nation is positioned to acquire 51% of OCESA Entretenimiento — Mexico’s largest concert promoter — for $444 Million.

    OCESA is not only a major player in Latin America’s live events industry as the owner of Ticketmaster Mexico, but also owns and multimedia company Grupo Televisa. The company works with EDC Mexico and beyond.

    The acquisition was first announced in mid-2019, but was delayed due to the pandemic. In that time, the price has dropped from a reported $480 million to $444 million.

    Per the announcement, “OCESA promotes more than 3,100 events for nearly 6 million fans in a typical year across Mexico and Colombia and has a robust business portfolio in ticketing, sponsorship, food & beverage, merchandise, and venue operation with 13 premier venues across Mexico with a collective capacity of nearly 250,000 seats.”

    Michael Rapino, President and CEO, Live Nation Entertainment states via press release:

    After serving as Live Nation’s touring, festival, and ticketing partner in Mexico for years, we know OCESA is a stellar business with deep roots in live entertainment in Mexico. Alex has built a remarkable company and as we continue to build on the return to live, OCESA will play a pivotal role in putting together many incredible shows in Mexico and the rest of Latin America.

    The deal is expected to close later this year, though it is subject to regulatory approval.

     

    H/T: Variety | Source: Live Nation

    This article was first published on Your EDM. Source: Live Nation Set to Acquire 51% of OCESA, Mexico’s Largest Concert Promoter

     Share


    User Feedback

    Recommended Comments

    There are no comments to display.



    Join the conversation

    You can post now and register later. If you have an account, sign in now to post with your account.

    Guest
    Add a comment...

    ×   Pasted as rich text.   Paste as plain text instead

      Only 75 emoji are allowed.

    ×   Your link has been automatically embedded.   Display as a link instead

    ×   Your previous content has been restored.   Clear editor

    ×   You cannot paste images directly. Upload or insert images from URL.


Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.