When completed, these acquisitions will expand Live Nation’s global presence from five to seven of the top ten recorded music markets worldwide, including, in addition to France (the fifth largest) and Spain (the ninth largest), the United States (#1), the United Kingdom (#3), Germany (#4), Canada (#6), Italy (#8) and Holland (#10). The entrance into France and Spain will also provide Live Nation with a pan-European reach which will facilitate tour booking and multi-country sponsorship transactions.
"Gamerco and Jackie Lombard Productions are both highly dynamic, creative and successful companies which perfectly complement our existing global promotion portfolio and move us closer to our goal to be in all of the top music markets around the world," said Michael Rapino, Chief Executive Officer of Live Nation.
The acquisition of Gamerco, along with its affiliates Iguapop, Troubleshooter and Cetisa, brings its principals, Gay Mercader, Pino Saggliocco and Roberto Grima, under the Live Nation umbrella. Gamerco produces more than 250 shows per year primarily in the largest cities in Spain, including Madrid and Barcelona. Its shows include many local Spanish or Spanish-speaking artists as well as international superstars such as Marc Anthony, Il Divo, Luis Miguel, The Who and George Michael.
"We are extremely excited to become part of the Live Nation team and look forward to working with our colleagues around the world to create new opportunities for artists and fans alike," said Mr. Mercader.
Jackie Lombard Productions, led by Jackie Lombard, regularly produces, in Paris and throughout France, the top concerts by international artists such as Madonna, The Rolling Stones, George Michael, Depeche Mode and Ricky Martin. Lombard’s shows attract over 250,000 fans each year. The acquisition of Jackie Lombard Productions is expected to close early in 2007.
"I am very pleased to be able to join with Live Nation to build our business in France," said Ms. Lombard.
About Live Nation
Live Nation is the world’s leading live entertainment company, annually connecting more than 67 million fans with their favorite performers at over 33,000 events. We are the largest producer of live concerts in the world, the second-largest venue management company and have a rapidly growing online presence. Live Nation creates superior experiences for artists and fans, regularly producing tours for the biggest superstars in the business, including The Rolling Stones, Barbra Streisand, Madonna, U2 and Coldplay. Globally, we own, operate and/or have booking rights for more than 170 venues, including House of Blues-branded music venues and prestigious locations such as San Francisco’s Fillmore Auditorium, Nikon at Jones Beach in New York and London’s Apollo Theatre and Wembley Arena. Live Nation’s websites collectively are the second most popular entertainment event websites in the United States, according to Nielsen//NetRatings. Headquartered in Los Angeles, California, Live Nation is listed on the New York Stock Exchange, trading under the symbol "LYV." For more information regarding concerts near you, Live Nation and its businesses, please visit our website at www.livenation.com.
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SOURCE: Live Nation