Green light for Live Nation’s Portuguese expansion

Portugal’s competition authority has greenlit Live Nation’s acquisition of Lisbon’s MEO Arena, along with promoter Ritmos e Blues (Rhythm & Blues).

It was revealed in April last year that Live Nation was purchasing a majority stake in the venue’s owner Arena Atlântico and subsidiaries including ticketing company Blueticket, in addition to an “indirect controlling stake” in Ritmos e Blues.

The deal was held up by an in-depth investigation by regulator Autoridade da Concorrência (AdC), but has now been cleared, more than 18 months on, after LN proposed “adequate, sufficient, proportionate and feasible” commitments to address potential competition law concerns.

The 20,000-cap MEO Arena opened in 1998 for the Expo 98 World Trade Fair and has hosted superstar acts such as Harry Styles, Dua Lipa, Adele, André Rieu and Travis Scott.

“Lisbon is one of Europe’s most exciting capitals, and we’re honoured to be part of its cultural fabric,” says John Reid, president of Live Nation EMEA. “With this investment, we’re committed to bringing more shows to Portugal, supporting the local economy and creating incredible experiences for fans.”

Ritmos e Blues, which was founded in 1990 by Nuno Braamcamp and Álvaro Ramos, has promoted concerts by the likes of Whitney Houston, Bruce Springsteen, Michael Jackson, Prince, U2 and the Rolling Stones, and was part of the consortium that controlled Arena Atlântico.

“MEO Arena is known nationally and internationally for hosting Portugal’s major shows and events”

LN, whose partnership with the firm dates back to 2011, is also active in Portugal in the promotion of the Rock in Rio Lisbon festival through its Better World subsidiary, and holds a stake in the Rolling Loud festival.

AdC says the commitments put forward by LN include a guarantee of “effective freedom of choice of the ticketing company by the promoter who uses the services of MEO Arena”.

Following the deal, renovations are planned at MEO Arena to upgrade premium seating, skyboxes, dressing rooms and concessions, while Live Nation will also build on current sustainability efforts – focusing on reducing its environmental impact and increasing social benefits in line with its Green Nation pledges.

“MEO Arena is known nationally and internationally for hosting Portugal’s major shows and events,” adds MEO Arena CEO Jorge Vinha da Silva. “With this deal we want to build on the arena’s reputation as a cultural destination, and we feel that Live Nation is the right strategic partner to achieve this. I am really excited to enter this new era, not only for MEO Arena but also for Portugal.”

Daily operations at the venue will remain under its current leadership team, supported by Live Nation’s global network, with the acquisition expected to be finalised in late 2024/early 2025.

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