Live Nation has terminated a planned $480 million acquisition of Mexico's largest promoter OCESA Entretenimiento, but a future agreement is still possible, a source tells Billboard.
Soy Luna Live, one of OCESA’s top-grossing shows of the past year, according to Billboard Boxscore.
Live Nation has terminated a planned $480 million acquisition of Mexico's largest promoter OCESA Entretenimiento, but a future agreement is still possible, a source tellsMonday , Live Nation officials notified Corporación Interamericana de Entretenimiento and Grupo Televisa that Live Nation was terminating a stock purchase agreement to acquire a controlling interest in the Mexican concert company.
CIE and Grupo Televisa are expected to contest the termination and the three parties will soon begin arbitration proceedings. Live Nation officials intend to seek a declaratory judgment from an international arbitration body that the company has properly terminated the purchase agreement., although Live Nation would likely want changes made to the agreement to mitigate any uncertainty caused by the pandemic.
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