WASHINGTON (dpa-AFX) - Live Nation Entertainment Inc. (LYV) announced the acquisition of Cream Holdings Limited. Cream, since its launch in 1998, has grown to organize sell-out artist tours, nine Creamfields Festivals and internationally renowned DJ club events. With this purchase, Live Nation further establishes its position in electronic music and expands its concert platform.
Michael Rapino, President and Chief Executive of Live Nation said, 'We intend to launch new festivals in key markets in North America, Europe, and Southeast Asia.'
In 2012, Cream intends on attracting more than 350,000 fans to its festivals around the world, including over 100,000 at its Creamfields UK festival alone. Each year fans flock to Creamfields outdoor music festivals so that they can revel in the energy of the DJs and live electronic music.
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© 2012 AFX News
