Live Nation Entertainment Inc. on Wednesday said that it acquired a majority stake in Estonia’s BDG Music Group, considered the largest concert promoter in the Baltic region.
The Beverly Hills concert and artist promoter did not disclose terms of the deal. BDG is based in Tallinn and has produced more than 50 shows since launching in early 2012. The company will be renamed Live Nation Baltics and retain its current management team.
Live Nation now has operations in 43 countries. “BDG's extensive network in Estonia and Lithuania will strengthen our position in Eastern and Central Europe, and will offer our artists a full run around the Baltic Sea,” Thomas Johansson, chairman of the company’s international music group, said in a statement.
Live Nation shares closed down 27 cents, or 1.7 percent, to $15.23 on the New York Stock Exchange.