Live Nation Belgium has acquired venue operator Antwerps Sportpaleis, which runs the 23,000-cap. Sportpaleis arena, among others
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Páramo is best known for its flagship four-day event Estereo Picnic, the biggest music festival in Colombia
By James Hanley on 10 Jul 2023
Live Nation has expanded its presence in Latin America by acquiring a majority stake in leading Colombian promoter Páramo Presenta.
The deal was executed via Mexico’s Ocesa, in which LN secured a controlling interest in December 2021.
Páramo is best known for its flagship four-day event Estereo Picnic, the biggest music festival in Colombia. Held in Bogotá, its most recent edition in March was headlined by Twenty One Pilots, The Chemical Brothers, Drake and Billie Eilish.
The firm’s festival portfolio also includes Bogotá’s Baum Festival and Knotfest.
“Páramo is fresh off of a record year and their team are some of the best in the business,” says Live Nation president and CEO Michael Rapino. “Colombia is a booming market, and we’re looking forward to working with our new partners at Páramo and longtime partners OCESA as we continue our expansion across Latin America.”
“We are excited to build upon our deep relationship with Live Nation, and welcome Páramo as a partner,” adds Ocesa CEO Alejandro Soberón Kuri. “Together, we will continue to elevate the live entertainment landscape in Latin America, adding Páramo’s top festivals and concert roster to Ocesa’s large scale events in Colombia.”
“Almost 20 years ago, we embarked on this journey because we saw the opportunity to bring more artists we love to Colombia”
All future events will be ticketed through Ocesa’s Colombian ticketing entity Eticket as part of the partnership.
“Almost 20 years ago, we embarked on this journey because we saw the opportunity to bring more artists we love to Colombia,” says Páramo Presenta CEO Gabriel García.
“After being raised in an era with very few shows in the country, and being part of an exponential rise of live music, today we celebrate this historic merge with Live Nation and Ocesa, two of the most important entertainment companies in the world, with the firm conviction that it will propel us to new heights and provide even more unforgettable moments between artists and fans, becoming a key part of the country’s growth and strengthening our market to be increasingly competitive on the global stage of live entertainment.
“All of this was made possible thanks to the public and the sponsors who have believed in and supported our work.”
Live Nation’s Ticketmaster business recently strengthened its foothold in Latin America by launching new operations in Brazil and Peru, adding to its existing operations in Argentina, Mexico and Chile. LN’s C3 Presents and Rock City also took control of Lollapalooza Brazil earlier this year.
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