Live Nation has further expanded its music festival portfolio through its acquisition of a majority stake in Switzerland’s Openair Frauenfeld, Europe’s largest hip-hop festival.
The addition signifies Live Nation’s seventh buy-out in 2017, with its acquisition of Isle of Wight Festival in UK taking place in March but later put into question by a competition watchdog investigation.
The annual Openair Frauenfeld festival, held in Frauenfeld, Thurgau, launched in 2004 with big-name headliners such as The Rolling Stones, David Bowie, Bob Dylan and REM.
Openair Frauenfeld 2017 was the festival’s 14th event that saw more than 170,000 patrons, with The Weeknd, Usher and The Roots as its headliners.
“We are incredibly proud and excited to partner with Openair Frauenfeld, which sees us add one of the world’s finest festival brands to our portfolio,” said Andre Lieberberg, president of Live Nation GSA (Germany, Switzerland and Austria).
“The partnership will give media and our brand partners a unique platform for the Swiss and German-speaking markets. We look forward to working with First Event AG to build and grow this unique festival brand, offering an unparalleled festival experience to thousands of fans.”
The managing director of Frauenfeld-based First Event, Rene Götz said she will continue to produce the festival for Live Nation Switzerland.
Wolfgang Sahli, the festival’s founder and chairman of First Event, said: “We believe joining forces with the world’s leading live entertainment company, Live Nation, has given us a strong and innovative partner with which to continue to grow and evolve Openair Frauenfeld.
“We are truly looking forward to our partnership.”
Image: bbolender
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