Live Nation is set to acquire festivals and venue operator MAMA & Company, according to reports. Earlier this year, MAMA appointed global business advisors Alix Partners as it considered its options following two unsolicited bids for the firm. Audience now reports that AEG Live was also in the running but was outbid by Live Nation with the deal expected to be completed in August following due diligence. MAMA's venue portfolio includes The Forum in Kentish Town, Camden's The Jazz Cafe and Barfly, The Garage, The Borderline and Hoxton Square Bar and Kitchen, all in London, along with Manchester Ritz, Birmingham's The Institute and Arts Club Liverpool as well as The Great Escape conference and showcase festival in Brighton and the Lovebox and Wilderness festivals.
Confirming the deal, Live Nations UK chief Paul Latham said "We are delighted to be welcoming new venues, and some that we have previously managed, into the group. Likewise MAMA have made great strides with their festivals and the creativity they have demonstrated will be complementary to LN-Gaietys existing portfolio."