Global Entertainment buys 'em up

Global Entertainment - owners of those radically-hip radio stations Capital FM, Heart and Classic FM - have just added to their "festival portfolio" "through an increased stake in Broadwick Live and a series of strategic acquisitions".

The six festivals they've bought are SouthWestFour, Field Day, Boardmasters and Rewind Festival, which were previously owned by Impresario, plus the two previously owned by Count of Ten which are Y Not, and Truck.

Global first bought a stake in Broadwick Live in June 2015, and this has now been increased to create "a stronger partnership between our companies, working together to co-create new festivals and branded events, and take existing events to new countries". Broadwick Live have stakes in or own Standon Calling, Glass Butter Beach, Lost Village, Festival No.6, and Snowbombing.

Sam Bush, director of Global’s live & touring division, said: “We took a stake in Broadwick Live just over a year ago. We’ve had an incredible first year working together, working hard to bring in some of Europe’s leading music festivals as well as some of the most innovative and well-loved up-and-coming festivals. We have a shared ambition to grow the portfolio and we look forward to doing this with Gareth and the team at Broadwick Live as well as the founders and managers of the festivals we have acquired.”

Gareth Cooper, CEO of Broadwick Live, said: “These are exciting times. Working with Global has helped us to realise our ambitions and then some. We have a strong partner that offers us unbelievable support and shares our goal to build an international festivals business, starting with our first venture in North America next year. What we have announced today is just the beginning.”

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