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Vivo Concerti Spins Off In Management Buyout

MILAN, Italy (CelebrityAccess) — Warner Music Italy has decided to sell its stake in the live touring company Vivo Concerti to the company's managing director Clemente Zard.

First established in 2011 as a live entertainment unit to support Warner Music Italy's artists, Vivo Concerti has produced tours for both local and international artists, including Arctic Monkeys, Franz Ferdinand, The Black Keys and Bruno Mars among others. Zard has overseen the company since 2016.

According to Music Week, the newly independent company will continue to maintain a close working relationship with WMG Italy and its roster of artists in the country.

Marco Alboni, Chairman, and CEO, Warner Music Italy, said: “It’s been a great pleasure to work with everyone at Vivo over the last six years. The company is well placed to be a key player in the live market and I want to wish everyone there all the best going forward. This move will enable us to focus on our core business of A&R, content creation and providing tailored services to existing and new artists.”

Clemente Zard added: “I would like to thank Marco and the whole team at Warner Music Italy for their support as we’ve gone through this process. I look forward to working with them in the future as Vivo pursues its own destiny in the touring business. I think we have a great future as a player in Italy’s exciting live sector.”