The MAMA of all takeovers
Live Nation and Gaeity Investments expand their stock of venues and festivals
The Live Nation hunger for expansion shows no signs of abating. The company has just acquired leading UK promoter, venue owner and festival operator MAMA & Co via its LN-Gaiety Holdings Ltd joint venture. This gives the new owners control of such venues as London’s Forum and Jazz Cafe, Manchester’s Ritz, Birmingham’s The Institute and Liverpool’s Arts Club and festivals like The Great Escape, Lovebox, Citadel, Wilderness, Somersault, Global Gathering and Godskitchen, as well as a share of All Tomorrows Parties.
The Irish angle to this is that Live Nation’s joint venture is with MCD man Denis Desmond’s Gaeity Investments. This joint venture, initially known as Hamsard, has been very active in the last decade since it purchased the Mean Fiddler group, adding a rake of music venues (The Academy Group’s portfolio including London’s Brixton Academy and Wembley Arena) and festivals (significant stakes in or ownership of Creamfields, T in the Park, Download, Wireless, Calling, Reading Festival, Leeds Festival, Latitude, Longitude, Electric Picnic – the latter five via its stake in Festival Republic – and V Festival) to its portfolio. There’s a rundown on the joint venture’s financials and directors on this very thorough site.