BMG Inks Deal With Germany's Taubertal-Festival

New Alliance

BMG, its live partner, UNDERCOVER and VOLKER HIRSCH, founder of GERMANY's TAUBERTAL-FESTIVAL have teamed to form a strategic alliance. BMG has agreed to buy a majority stake in KARO, organizer of TAUBERTAL-FESTIVAL. The agreement is the next step in BMG's expansion into the live music and entertainment business.

UNDERCOVER CEO MICHAEL SCHACKE commented, "One year after UNDERCOVER joined BMG, we can now close the festival gap in our live portfolio and thus further expand our joint vision of live entertainment and artist partnership."

BMG EVP Global Repertoire & Marketing EU, APAC & LATAM DOMINIQUE CASIMIR added, "Moving into live music demonstrates BMG’s commitment to offer artists the entire creative value chain, giving us the opportunity to serve them in every area of their careers depending on their individual setup. Expanding these services to all relevant stakeholders in the live music and entertainment market is the next big step."

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