CTS Eventim acquires majority stake in Italian promoter
CTS Eventim is acquiring 51% of the shares in the Italian promoter Vertigo.

By making this acquisition, CTS Eventim is continuing to broaden its international scope and now has a presence in Italy with its Live Entertainment segment. The company already owns Ticketone, one of the leading ticketing providers in that country.

Vertigo will continue to be led by co-founders Andrea and Stefano Pieroni – although CTS Eventim gains two seats on its management board, and the company will be “fully consolidated” into its Medusa Music Group division.

Klaus-Peter Schulenberg, CEO of CTS Eventim, commented, "Italy is already one of the most important markets for our company. So entering the Live Entertainment segment there is a logical step in our ongoing internationalisation. I am all the more delighted by the fact that, by acquiring the stake in Vertigo, we are also taking on board a highly creative, fast-growing and superbly managed promoter."

Vertigo was established by two brothers, Andrea and Stefano Pieroni. Both have many years of experience in the live entertainment business, including stints as managers at Live Nation Italy. Andrea Pieroni is the historical promoter of legendary international acts such as Iron Maiden, Metallica and David Gilmour. He also invented the world famous "Gods of Metal" festival, the main Italian rock/metal event which was exclusively booked and promoted by Andrea Pieroni from its inception in 1997 to the final edition in 2016.

Frithjof Pils, Managing Director of Medusa Music Group at CTS Eventim, said, "The Italian live entertainment market offers us some excellent perspectives thanks to its creative diversity and high levels of demand. We want to extend our position there in the years ahead. The Vertigo takeover is the perfect launching pad, not least because we will benefit from the experience and the network of the Pieroni brothers."

Andrea Pieroni, CEO of Vertigo, added, "The partnership with CTS Eventim is a milestone for Vertigo and will help us take the next step forwards in our development. We want to enlarge our portfolio even further over the next few years and offer a creative and service-centred base to different styles of artists from Italy and abroad.