LOS ANGELES, CA (CelebrityAccess) — AEG has sold an equity stake in its live event production unit, Bounce to Concord Bicycle Music. The news was announced by Bounce CEO Tim Swift, remain at the helm of the joint venture.
The deal will see Bounce continue to provide production services to corporate, music-industry and broadcast clients, as well as focusing on developing new content with both AEG and Concord, as well as third party clients. The deal will allow Bounce to leverage AEG's reach to produce content for both live and broadcast distribution channels.
Bounce also hopes the agreement will create new broadcast and other media opportunities for both Bounce and CBM artists. Past projects have featured featuring artists on Concord labels including James Taylor, Paul McCartney and Carole King among others.
AEG retains a controlling stake in Bounce's board, which will consist of three members designated by AEG, as well as Swift, and two members designated by C
“Bounce has established a reputation for producing high-quality events for clients such as MusiCares, PBS, Rolex, and Chanel,” said Tim Swift, CEO, Bounce. “This new alliance allows us to move beyond a traditional client-vendor relationship, and truly become content partners.” – Staff Writers