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Business News Deals Labels & Publishers Live Business
AEG sells stake in live production unit to Concord Bicycle Music
By Andy Malt | Published on Thursday 12 May 2016
Live giant AEG has sold an equity stake in its live event production unit Bounce to record label and music publisher Concord Bicycle Music. With AEG maintaining a controlling interest, Bounce will now operate as a joint venture, producing events for both parent companies, as well as working for third party clients.
“Bounce has established a reputation for producing high-quality events for clients such as MusiCares, PBS, Rolex, and Chanel”, says Bounce CEO Tim Swift. “This new alliance allows us to move beyond a traditional client-vendor relationship, and truly become content partners”.
Concord Bicycle CEO Scott Pascucci adds: “We are very excited to be working with Bounce and AEG. Our strategic partnership will give Concord Bicycle Music new opportunities to serve our artists and extend our reach into high-profile events and broadcast programming”.
In addition to Swift, five new members will be added to Bounce’s board – two from Concord Bicycle and three by AEG.
