Promoter and venue operator CTS Eventim has bought a majority stake in promoter Talent Concert International (TCI).
CTS, which also owns ticketing provider partner.ru, will own 51 per cent of TCI, the promoter of shows by artistes including Rihanna, Limp Bizkit and Blur.
“CTS Eventim is the best possible partner for continuing TCI’s growth story long-term,” says TCI founder and president Ed Ratinov.
“Becoming part of a global player opens up additional opportunities for us and the entire Russian market.
CTS Eventim CEO Klaus-Peter Schulenberg adds, “TCI complements our portfolio perfectly. The Russian market is very important to a growing number of internationally popular artistes and few companies bring as many acts from abroad to Russia as TCI.”
Ratnikov and finance director Nikolay Sinitsyn hold the remaining 49 per cent of shares and will remain with the company.
Earlier this year, CTS announced is was grouping its European promoting interests, which comprise 28 owned or majority-owned companies and their 30 festivals spanning 12 countries, under the banner Eventim Live (see Audience issue 230).