Live Nation Canada has acquired The KEE to Bala in partnership with the entertainment venue’s current operators, Mike Strong and Mike Homewood. The venue is located on Lake Muskoka, in Bala, Ontario and was originally constructed as a dance hall in 1942. It has hosted performances from both Canadian and international acts including Blue Rodeo, …
Long-running Danish festival Langelandsfestival goes bankrupt
Langelandsfestival, one of Denmark’s longest-running festivals, has filed for bankruptcy. The annual event was first launched in 1991 and typically took place over four days in late July on Langeland island, in southern Denmark. Some 35,000 people traditionally attended the festival. In December last year, the festival announced that it would not be happening this …
Cineworld to file for administration in the UK as part of restructuring plans
Cinema chain Cineworld has said that its screens will remain open despite plans to file for administration next month. The cinema chain was hit hard by forced closures at the hand of the COVID-19 pandemic and the Cineworld Group includes cinema brands Regal, Cinema City, Picturehouse and Planet. The move will see Cineworld’s London-listed shares …
DEAG Corporate Bond 2023/2026 successfully placed in full
DEAG Deutsche Entertainment (DEAG) has successfully completed the placement of its Corporate Bond, with an issue volume of €50m (£43m/$55m). The issue was oversubscribed and the offering was terminated earlier yesterday (Monday). The annual fixed interest rate was set at 8% during the book building process. DEAG announced the issuance of the Corporate Bond earlier …
Project Admission passes $13m in funding after rapid growth
Project Admission has topped more than $10m in investment after signing up a host of major league teams in the first half of 2023. The technology company has attracted a new round of investment, including $3.2m in funding, led by Flyover Capital, with return investor Anthemis. New investors The Raptor Group and Scrum Ventures also …
US touring leaders APA and AGI form new mega agency
Leading North American entertainment groups Agency for the Performing Arts (APA) and Artist Group International (AGI) have merged to form a new full-service agency, Independent Artist Group (IAG). Under the terms of the merger, Jim Osborne, president of APA, becomes IAG’s chief executive, with Dennis Arfa, founder of touring agency AGI, becoming chairman of AIAG’s …
LN shareholders reject Rapino pay proposal
Live Nation shareholders have voted against chief executive Michael Rapino’s $139m pay package after rejecting executive compensation proposals. Around 54% voted against the pay plans for the group’s leader and other C-suite executives in a vote earlier this month. Rapino was slated to earn a $12m cash performance bonus for 2022 and stock awards of …
Seat Unique raises £7m in Series A funding round
Online marketplace for premium tickets to live events, Seat Unique, has raised £7m (€8m/$9m) in a Series A funding round led by London-based Nickleby Capital. The Series A funding comes after the platform surpassed £30m in ticket sales, and the securing of partnerships with over 40 UK venues, clubs and promoters. The most recent deal …
Robbie Williams backs Tickets For Good
British singer Robbie Williams has become the largest investor in Tickets For Good, a platform that provides free and discounted tickets for events to NHS and charity sector workers. Following a seed funding round, £500,000 (€581,000/$628,000) of investment capital has been secured for Tickets For Good. Williams joins existing investors Bethnal Green Ventures and US …
Management completes buy-out of Billetto
Ballroom, a holding company led by Billetto management, has acquired 100% of the debt and equity in Billetto, an event marketplace in Denmark and Sweden. The holding company is made up of Billetto founder Patrick Borre with investment from existing chairman Joe Cohen, MC-Group, The Öhman Group and VNV Global. Billetto was acquired from the …