Live Nation to acquire IMM’s share of Rock in Rio
LN will buy out Brazilian promoter IMM to increase its stake in Rock City/Rock in Rio to a reported 60%, consolidating its ownership of South America's biggest festival
News By | 4 July 2019
Live Nation has confirmed to IQ it is to increase its shareholding in Rock in Rio to a majority stake. The US concert giant bought into Rock City – the company behind the 100,000-capacity flagship festival in Rio de Janeiro, Brazil, and its 80,000-cap.
Live Nation has confirmed to IQ it is to increase its shareholding in Rock in Rio to a majority stake.
The US concert giant bought into Rock City – the company behind the 100,000-capacity flagship festival in Rio de Janeiro, Brazil, and its 80,000-cap. Lisbon sister event – in May 2018, taking over the minority share formerly held by SFX/LiveStyle. At the time, Live Nation said it aimed to become the controlling shareholder by 2019.
It now appears to be putting those plans in motion…
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