Live Nation Entertainment becomes full owner of Live Nation Japan with minority stake buy
Live Nation Entertainment has taken a minority interest in Live Nation Japan from Creativeman. The purchase gives the US-based firm full ownership of the Japanese firm, according to Billboard. The financial terms of the acquisition deal were not disclosed in the said report.
Alan Ridgeway, the president of Live Nation Entertainment, said of the transaction: "As we continue to expand our global network, we wanted to assume full ownership of Live Nation Japan. Although we still expect to work together on some projects, this allows Live Nation to pursue our own interests and work with a variety of partners."
Under the terms of the acquisition, Live Nation Japan chief Frank Takeshita will cease participating in Creativeman's projects. He will now become Live Nation Japan's managing director, the report added.
Established in 2012, Live Nation Japan promotes high-profile regional and international concerts including those of Lady Gaga, Infinite, and Nickelback. The firm has also helped send Japanese artists such as Vamps and Taro Hakase to other nations in North America and Europe, Billboard reported.