Squire Patton Boggs advised a NYSE-listed firm on its acquisition of a majority stake in an Australian events business.
Live Nation Entertainment has bought 51% of the Secret Sounds Group, an Australian group of companies which owns and produces two of Australia’s largest music festivals – Splendour in the Grass and Falls Music & Arts Festival.
The two popular festivals are the first in Australia to join Live Nation’s stable of more than 80 music festivals which include youth culture and arts household names such as Lollapalooza, AustinCity Limits, Reading and the Sweden Rock Festival.
The acquisition also includes Secret Sounds’ touring, sponsorship, PR, artist management and domestic agency business.
“The expansion of Live Nation’s activities in Australia demonstrates the vibrancy of the local music scene and our client’s commitment to the Australian live performance industry,” said Campbell Davidson, Squire Patton Boggs’ lead partner on the acquisition.
Davidson noted that Squire Patton Boggs has worked with Live Nation around the world, most recently helping the live entertainment outfit secure the long-term lease of the iconic Palais Theatre in St Kilda, Melbourne.
Davidson was assisted by senior associate Clive Lee and associates William He and Chris Steenson. Partner Anna Elliott provided employment law advice.
Meanwhile, Secret Sounds Group was represented by
PwC Legal, including partners Andrew Wheeler and James Delesclefs, with senior associate Nathan Greenfield and lawyers Jonathan Chelvam and Amy Camenzuli. Employment partner Tim Frost, as well as partners and other professionals from PwC’s direct and indirect tax teams and financial advisory teams, also provided services.
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