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Live Nation Extends Swedish Stake

LOS ANGELES (CelebrityAccess MediaWire) — Live Nation is expanding its operations in Sweden and has announced the acquisition of 51% of Luger Inc AB and 75% of Moondog Entertainment AB, taking its holding in both companies to 100%.

Live Nation and Luger have worked closely together since Live Nation’s initial 49% investment in Luger and 25% investment in Moondog over ten years ago.

Stockholm-based Luger has been in business since 1991 is is a major promoter and festival producer in the market. They also represent a surfeit of Swede talent, including Britta Persson, Adam Tensta, The Hellacopters, The Hives, Petter, Teddybears Sthlm and Moneybrother. Ola Broquist, Patrik Fredriksson and Morgan Johansson, the founders of Luger, will remain with the company, as will the rest of their staff.

Luger's sister company, Moondog Entertainment, is a management company representing such artists as José Gonzaléz, Caesars, The (International) Noise Conspiracy and The Hellacopters.

"We are pleased to welcome the Luger and Moondog teams to Live Nation Sweden. The combination of the strengths of these two companies with those of Live Nation will further reinforce our leadership in Sweden’s live music market, allowing us to provide an enhanced experience to fans, artists and our corporate partners," said Carl Pernow, President Live Nation Nordics. – CelebrityAccess Staff Writers