photo_cameraphoto by Live Nation
Promoters
Live Nation Takes Majority Stake in Chile’s Bizarro
Live Nation Entertainment has agreed to acquire a majority stake in Chilean concert promoter Bizarro, strengthening its presence in the Latin American live music market.
The transaction remains subject to regulatory approval.
Under the agreement, Live Nation will make a majority investment in Bizarro Chile, the concert promotion company founded in 2008 by Alfredo Alonso, who will remain in charge of the company`s creative and strategic direction.
The partnership is intended to expand opportunities for Latin artists in Chile and across the wider region, combining Live Nation`s international touring network with Bizarro`s local market knowledge and established relationships with Latin artists.
Bizarro will operate alongside DG Medios, Live Nation`s existing partner in Chile. DG Medios will continue to focus on international touring and major live events, while Bizarro will contribute its expertise in Latin artists and local content.
"Chile is one of the most dynamic music markets in Latin America, and a priority for Live Nation," said Michael Rapino, President and CEO of Live Nation Entertainment. He added that the agreement complements the company`s existing partnership with DG Medios and strengthens its commitment to developing Latin music across the region.
Bizarro founder Alfredo Alonso described the partnership as an opportunity to expand the company`s activities and bring more artists and larger productions to Chilean audiences.
The investment represents a further expansion of Live Nation`s operations in Latin America, where the company is strengthening its position through partnerships with established local promoters.
Financial terms of the transaction were not disclosed.