×

Live Nation Acquires Controlling Interest in Mexico’s OCESA Entertainment

Live Nation now has a stake in OCESA Entertainment, purchasing a controlling interest from CIE and Grupo Televisa, the companies announced on July 24. The acquisition brings Ticketmaster Mexico under the Live Nation banner, while adding some 14 venues across Mexico to its portfolio, with a collective capacity of nearly 250,000 seats.

OCESA promotes more than 3,100 events and also is involved in ticketing, sponsorship, food and beverage and merchandise, in addition to venue operation. Ticketmaster Mexico moves more than 37 million tickets annually. Also included in the deal is an interest in OcesaSeitrack, OCESA’s booking and artist management joint venture; CREA, one of Mexico’s special and corporate event specialists; and Centro Citibanamex, an exhibition and convention center in Mexico City.

Said Alejandro Soberón Kuri, president and CEO of CIE: “This evolution of our long-standing relationship with Live Nation gives us a unique opportunity to continue OCESA´s 30-year contribution to the development of the Mexican live entertainment industry. In addition, this will further foster CIE´s commitment to the promotion of Mexican artistic talent abroad.”

“OCESA has been Live Nation’s touring, festival, and ticketing partner in Mexico for years, and I admire the business Alex has built,” added Michael Rapino, president and CEO of Live Nation Entertainment, who will take on the chairman position of the venture’s board of directors (Soberón Kuri will serve as CEO). “This next step is a logical extension for both our teams, and we look forward to working on many more shows together.”

While subject to regulatory approval, Live Nation estimates that agreements will be fully executed and transactions  closed by the end of the year. Live Nation enlisted LionTree Advisors as financial advisor for the acquisition.

Popular on Variety

More Music

  • Born to Be Live: 'Easy Rider'

    Born to Be Live: 'Easy Rider' Gets a Concert/Screening Premiere at Radio City

    In a year full of major 50th anniversary commemorations — from Woodstock to the moon landing — why not one for “Easy Rider,” Dennis Hopper’s hippie-biker flick that was released on July 14, 1969? That was the idea when a rep for Peter Fonda, who starred in the film as the laid-back Captain America, reached out [...]

  • Rob Thomas Sammy Hagar

    Sammy Hagar Joins Rob Thomas for 'Smooth' Performance (Watch)

    Who do you call when your pal Carlos Santana has plans on a Friday night? If you’re Rob Thomas, you recruit another famous friend, rocker Sammy Hagar, who turned up to help the singer close out the latest show of his Chip Tooth Smile tour with a performance of “Smooth” at the Fox Performing Arts [...]

  • US record producer The-Dream arrives for

    Top Music Publishers Come Together for Songs of Hope Honors

    The 15th annual Songs of Hope honors united songwriters, music industry insiders and more than a few preeminent doctors at producer Alex Da Kid’s Sherman Oaks compound on Thursday night. Jimmy Jam returned to host the event, which served as a fundraiser for the ever-vital City of Hope medical treatment center as well as a [...]

  • Monkees/Badfinger/Nazz Supergroup Takes Beatles' 'White Album'

    Monkees/Badfinger/Nazz Supergroup Gets Back to '68 by Touring Beatles' 'White Album'

    The 50th anniversary re-release of 1969’s “Abbey Road” may be just days away, but that doesn’t mean Beatles fans have been there and done that when it comes to celebrating ’68. Todd Rundgren, the Monkees’ Mickey Dolenz, Badfinger’s Joey Molland and several other name musicians of a certain vintage are teaming up to go out [...]

  • Rob Cowan, Greg Silverman'The Conjuring 2'

    Greg Silverman’s Stampede, School of Rock Team for Unscripted Series (EXCLUSIVE)

    Former president of Warner Bros. Pictures Greg Silverman is partnering with School of Rock through his content creation company Stampede. The collaboration with the music school will create exclusive content, starting with the development of an unscripted series.  School of Rock operates a network of performance-based education franchises that offer students of all ages guidance [...]

  • 'Downton Abbey' Music Gets 'Bigger, Better,

    As 'Downton Abbey' Hits the Silver Screen, the Music, Too, Gets 'Bigger, Better, Grander'

    When “Downton Abbey” fans hear that familiar strings-and-piano theme, a Pavlovian response ensues: Get to the television immediately, because you don’t want to miss a minute of the addictive Crawley family melodrama to follow. This week, with the “Downton Abbey” movie reaching theaters on Friday, fans can’t wait for their fix of Lady Mary and [...]

More From Our Brands

Access exclusive content