LIVE NATION ADDS ANOTHER FESTIVAL
Live Nation has acquired a stake in Rock in Rio, one of the largest music festivals in the world that currently operates biennial events in Rio de Janeiro, Brazil, and Lisbon, Portugal.
"The partnership will generate a number of synergies that will enable the realization of even greater ambitions for Rock in Rio,” said Roberto Medina, Rock in Rio's founder and President.” We are two companies with a united global vision and the ability to achieve big dreams."
Started in 1985, 9m people have attended the 18 editions Rock in Rio where 1,700 artists have performed. Queen, Prince, Guns N' Roses and The Rolling Stones are among the acts that have headlined the festival.
Live Nation has been building it festival portfolio—it is over 100—as well as its footprint in South America as its partner C3 Presents has expanded the Lollapalooza franchise across Brazil, Chile, and Argentina.
"Rock in Rio is a marquee event which set the standard for festivals in South America," said Michael Rapino, President and CEO, Live Nation Entertainment. "Roberto and his team have grown Rock in Rio to become a truly global event and the preeminent festival in the emerging live events market in South America.”
Rapino had to promise to never confuse a mojito with a caipirinha to get the deal signed.
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