BERLIN (CelebrityAccess) — German entertainment company Deutsche Entertainment Aktiengesellschaft (DEAG) announced that it is acquiring a full stake Switzerland’s pre-eminent classical concert promoter The Classical Company AG.
The deal, which will be made through DEAG’s its fully-owned subsidiary DEAG Classics AG, will acquire the outstanding 50% in The Classical Company from the Swiss company Ringier AG, bringing the promoter fully under DEAG’s umbrella
After the deal closes, Ringier AG will continue to support business activities in Switzerland as a media partner until 2020.
The move is the latest in a series of deals by DEAG to reduce minority ownership participation in their Classics & Jazz and Ticketing divisions, with an eye towards increasing value for the company’s investors, the company said.
Founded in 2010, The Classical Company has become one of the leading classical music promoters in Switzerland. Since its inception, the company has promoted events by Lang Lang, David Garrett, Italian tenor Vittorio Grigolo, Anna Netrebko, Erwin Schrott, Nigel Kennedy, and Simone Kermes.
Upcoming events include Anna Netrebko’s performance in Lucerne in February 2019.