Live Nation Entertainment has acquired a majority stake in BDG Music Group, the Baltic region's largest concert promotion company, according to Live Nation. 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.
Since early 2012, BDG Music has produced more than 50 shows in the Baltics and sold more than 200,000 tickets. Live Nation Baltics is slated to produce major concerts, including shows by Robbie Williams and Depeche Mode, among others.
"With this acquisition we now have operations in 43 countries,” Michael Rapino, Live Nation Entertainment president and CEO said in a statement. “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."
"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,”said Peeter Rebane, stated BDG Music co-founder.“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."
Live Nation’s chairman of International Music Thomas Johansson noted in the same release that, “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."