Live Nation Finalizes Acquisition Of Leading Latin American Promoter Ocesa

Moving Into Mexico, South America

LIVE NATION ENTERTAINMENT has closed its previously announced acquisition of a 51% controlling interest in OCESA ENTRETENIMENTO, a leading promoter in LATIN AMERICA. 

OCESA promotes thousands of events for millions of fans in a typical year across MEXICO and COLOMBIA, with interests in ticketing, sponsorship, food AND beverage, merchandise, and venue operation with 13 premier venues across MEXICO. OCESA’s primary ticketing business, TICKETMASTER MEXICO, is a leading ticketing company in that country, with around 20 million tickets sold annually.

LIVE NATION President/CEO MICHAEL RAPINO commented, "As we continue to bring shows back around the world, we’re excited to officially welcome OCESA into LIVE NATION. ALEX (SOBERON KURI] and the OCESA team are incredible at what they do and together we look forward to creating even more amazing live experiences across MEXICO and LATIN AMERICA." 

Said CIE Chairman Of The Board/COO ALEJANDRO SOBERON KURI, "This strategic agreement extends the already successful relationship we have with LIVENATION and we are very proud to take it to the next level. We are very excited to finally join forces with MICHAEL and his team. Together with the world leader, we will continue to add value and growth to the business, bringing the best entertainment to MEXICO and LATIN AMERICA.."

LIVE NATION acquired OCESA from CIE, a prominent player in the live entertainment industry in LATIN AMERICA and GRUPO TELEVISA, the largest media company in the SPANISH-speaking world, for an aggregate purchase price of MXN$8,835 million, 7% of which will be held back and retained by ;LIVE NATION to cover operating losses, if any, for a period of time following closing. SOBERON KURI will serve as CEO and sit on the board of the newly-formed joint venture. RAPINO will become Chairman of the venture’s board of directors. 

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