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Live Nation Acquires Two New Music Companies

LOS ANGELES (CelebrityAccess) — Live Nation aqcquired some new music properties in the first quarter of 2015, including a Swedish EDM promoter and a management company, though, so far, Live Nation isn't saying who.

According to a story first reported by Music Business Worldwide, Live Nation invested $15.9 million in acquiring a controlling interest in the two firms, one of which was, Stureplansgruppen Live (SPG Live), which produces the Summerburst Festival in Stockholm and Gothenburg.

The identity of the other company remains a mystery however and Live Nation has been atypically quiet about the acquisition. An unnamed source told Music Business Week that it was a firm in which Live Nation already owned equity. The report also said that the unnamed management company has been folded into Live Nation's own artist management division, Artist Nation. – Staff Writers