Live Nation continues to expand its global footprint with the acquisition of 30-year-old Australian and New Zealand promoter Michael Coppel Presents.
Live Nation's existing concet promotion operation in Australia and New Zealand, which is led by promoters Luke Hede and Roger Field, will be combined with the new business acquisition and renamed Live Nation Australasia. Michael Coppel will head up the new business as president/CEO. Hede and Field will continue to serve as vice presidents of promotions.
Michael Coppel Presents, which won the top independent promoter (internationally) at last year's Billboard Touring Awards in New York, ranked seventh on Billboard's top 25 highest-grossing promoters in 2011. The company grossed $117.3 million from 136 concerts that drew more than 1 million people, according to Billboard Boxscore.
"We have worked with Michael Coppel on a number of tours over the years and are now extremely pleased to be welcoming such a well respected and successful promoter into our international network," Live Nation president/CEO Michael Rapino said in a statement. "Australia is the 6th largest music market in the world and an increasingly important touring market for international artists. It represents a significant part of our opportunity for international growth."
In a statement, Coppel added: "I am delighted to be joining Live Nation and look forward to working with Luke, Roger and my current team, together with the touring teams in Los Angeles and London to firmly establish Live Nation as the leading promoter in Australia and New Zealand."