Live Nation, the largest producer of live events in the world, recently announced they will move to acquire Ocesa Entertainment. Ocesa is based in Mexico City and produces thousands of events around Mexico and Columbia each year.
This acquisition originally entered negotiations in 2019, being stalled because of the pandemic. Now as the live music business returns, the deal is resuming, but it is not closed yet. Should the deal be finalized, Live Nation will own 51 percent of Ocesa for the price of $444 million. If it is not completed by June 12, 2022, both parties have the power to end proceedings.
“After serving as Live Nation’s touring, festival, and ticketing partner in Mexico for years, we know OCESA is a stellar business with deep roots in live entertainment in Mexico,” said Michael Rapino, President and CEO of Live Nation Entertainment in a press release. “Alex has built a remarkable company and as we continue to build on the return to live, OCESA will play a pivotal role in putting together many incredible shows in Mexico and the rest of Latin America.”