North American promoter Live Nation bought a majority stake in Portuguese promoter Ritmos&Blues and in Arena Atlântico company, which manages the Altice Arena, in Lisbon, the Competition Authority (AdC) announced on Thursday.
In a notice published by the AdC, this entity stated that it was notified on April 19 of the merger of companies, which consists of the purchase by Live Nation of “an indirect controlling interest” in Ritmos&Blues and Arena Atlântico, which, in addition to the managing Altice Arena she is also responsible for Blueticket.
According to the same post, any comments on the deal now have 10 days to be communicated to the AdC.
In 2012, when the state sold what was then Pavilhão Atlântico, promoter Nuno Brancaamp of Ritmos&Blues had said that Live Nation – the largest promoter in the world – would “think about the matter and decide whether it is worth investing”, adding adding that the deal would be for a “reasonable amount” and the investment would be “a big million”.
At the time, Ritmos&Blues had signed an agreement allowing it to be the promoter of Live Nation shows in Portugal.
The Altice Arena, one of the buildings built in the eastern part of Lisbon as part of Expo’98, is a multi-purpose space that can host music and dance shows, conferences or exhibitions, and sporting events.
Source: DN
