Clear Channel Entertainment has extended its operations in Italy through the acquisition of Milan-based concert promoters, Friends & Partners for an undisclosed sum.

Clear Channel Entertainment has extended its operations in Italy through the acquisition of Milan-based concert promoters, Friends & Partners for an undisclosed sum.

In a statement, Friends & Partners managing director and owner Ferdinando Salzano says that the company will maintain its autonomy and its name. "It will have no direct link with Clear Channel Entertainment Italy, and will continue a relationship of healthy competition, although it will share the international group's main objectives," he says.

Friends & Partners was founded by Salzano in July 2001 and has organized concerts principally for Italian artists, such as Claudio Baglioni, Pino Daniele and Elisa.

Clear Channel has been present in Italy since December 2001, when it acquired two companies, Trident and Milano Concerti. The latter company's former chief Roberto De Luca is now managing director of Clear Channel Entertainment Italy. Clear Channel's Italian interests are currently limited to event promotion and the billboard business.

Questions? Comments? Let us know: @billboardbiz

Print