LIVE NATION VENTURES INTO COLOMBIA

Live Nation Entertainment has acquired a majority stake in Colombia’s leading music promoter, Páramo Presenta. The deal was executed through OCESA, which Live Nation acquired a controlling interest in in December 2021.

Páramo is renowned for its flagship event, Estereo Picnic, Colombia’s largest music festival. The four-day outing, held in Bogotá, draws crowds of more than 100k. Also included in the company's portfolio are Bogotá's Baum Festival and Knotfest. As part of the partnership, all future events will be ticketed through Eticket, OCESA’s Colombian ticketing entity and part of Live Nation’s ticketing platform.

“Páramo is fresh off a record year and their team are some of the best in the business,” said Michael Rapino, president and CEO of Live Nation Entertainment. “Colombia is a booming market, and we’re looking forward to working with our new partners at Páramo and longtime partners OCESA as we continue our expansion across Latin America.”

Páramo Presenta CEO Gabriel García chimed in, “Almost 20 years ago, we embarked on this journey because we saw the opportunity to bring more artists we love to Colombia. After being raised in an era with very few shows in the country and being part of an exponential rise of live music, today we celebrate this historic merger with Live Nation and OCESA with the conviction that it will propel us to new heights and provide even more unforgettable moments between artists and fans, becoming a key part of the country’s growth and strengthening our market to be increasingly competitive on the global stage.”