DEAG wholly acquires the Classical Company
Deutsche Entertainment AG (DEAG) has become the sole owner of Swiss classical music promoter the Classical Company, after acquiring all remaining shares in the company (50%) from Zurich-based media group Ringier.
The Classical Company is now a fully owned subsidiary of DEAG Classics – itself 100% owned by DEAG since June, when it bought out Sony Music’s 49% stake – although Ringier will remain a media partner until 2020.
The Classical Company deal is the latest step in DEAG’s strategy to eliminate its minority holdings and joint ventures, following DEAG Classics and, in July, MyTicket (formerly an equal partnership with Starwatch Entertainment).
Founded in 2010, the Classical Company is one of the leading promoters of classical music concerts in Switzerland. Past successes include Lang Lang, David Garrett, Vittorio Grigolo, Nigel Kennedy and Simone Kermes, while future shows include Anna Netrebko’s highly anticipated performance in Lucerne in February 2019.
In addition to various investments in TV, radio and ecommerce, Ringier is the owner of the Moon and Stars festival in Locarno and leading ticket agency Ticketcorner, the latter co-owned with CTS Eventim.