LOS ANGELES, June 17 /PRNewswire-FirstCall/ -- Live Nation Sweden today
announced the acquisition of 51% of Luger Inc AB and 75% of Moondog
Entertainment AB, taking its holding in both companies to 100%.
(Logo: http://www.newscom.com/cgi-bin/prnh/20070220/LATU096LOGO)
Live Nation and Luger have worked closely together since Live Nation's
initial 49% investment in Luger and 25% investment in Moondog over ten
years ago.
The acquisition adds significant promotion and festival expertise to
Live Nation Sweden, with Luger having promoted concerts by artists
including Coldplay, Arcade Fire, White Stripes and Duffy, and also having
successfully established three festivals in Sweden: Way Out West,
Accelerator and Where the Action Is, the latter in partnership with Live
Nation.
Ola Broquist, Patrik Fredriksson and Morgan Johansson, the founders of
Luger, will remain with the company, as will the rest of their staff.
"We are pleased to welcome the Luger and Moondog teams to Live Nation
Sweden. The combination of the strengths of these two companies with those
of Live Nation will further reinforce our leadership in Sweden's live music
market, allowing us to provide an enhanced experience to fans, artists and
our corporate partners," said Carl Pernow, President Live Nation Nordics.
"We are very excited to now have the opportunity to access Live
Nation's broad range of skills in order to further develop the success of
Luger and Moondog," said Ola Broquist, Managing Director of Luger.
Luger was founded in Sandviken in 1991 and has been located in
Stockholm since 1998. As well as being a leading promoter of international
acts and producer of festivals, Luger has a large agency operation and
represents almost one hundred Swedish artists, including Britta Persson,
Adam Tensta, The Hellacopters, The Hives, Petter, Teddybears Sthlm and
Moneybrother.
Luger's sister company, Moondog Entertainment, is a management company
representing such artists as Jose Gonzalez, Caesars, The (International)
Noise Conspiracy and The Hellacopters.
Where the Action Is took place in Stockholm this weekend with the Foo
Fighters headlining. The 2nd edition of Way Out West takes place in
Gothenberg on 7-9 August, with Neil Young headlining. Upcoming concerts for
Live Nation Sweden include Bruce Springsteen (4-5 July), Iron Maiden (16
and 26 July), REM (7 September) and Coldplay (18 September).
ABOUT LIVE NATION:
Live Nation is the future of the music business. With the most live
concerts, music venues and festivals in the world and the most
comprehensive concert search engine on the web, Live Nation is
revolutionizing the music industry: onstage and online. Headquartered in
Los Angeles, California, Live Nation is listed on the New York Stock
Exchange, trading under the symbol "LYV." Additional information about the
company can be found at http://www.livenation.com under the "About Us"
section.
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