DEAG to acquire British event promoter Flying Music
Berlin, August 18, 2017 – DEAG Deutsche Entertainment AG (DEAG), Berlin, listed on the Prime Standard – ISIN DE000A0Z23G6, WKN A0Z23G – is acquiring 60% of the shares of British promoter Flying Music Group Holding Ltd through its British subsidiary Kilimanjaro Holdings Ltd. The purchase price of approximately GBP 5.0 million will possibly increase later, depending on its future business development until 2019. In fiscal year 2016/2017, the Flying Music Group, which has been profitable since its inception, generated sales of around EUR 20 million. With the future sales contribution of the Flying Music Group, the DEAG Group’s sales in the UK are expected to increase to over EUR 100 million in 2018.
The Flying Music Group has successfully established itself as a tour, musical and theatrical production producer and promoter over the last 30 years. The Flying Music Group’s shows include the long running West End Hit “THRILLER – Live,” celebrating the music of MICHAEL JACKSON (that has now played to over 3 million people), the Olivier Award nominated “The Rat Pack Live from Las Vegas,” and the stage adaption of “The Kite Runner,” which is currently enjoying its second West End run with huge critical acclaim. With its event expertise, the Flying Music Group complements DEAG’s international event portfolio and will allow the company to continue to grow, especially in Family Entertainment, in the Show/Musical and Theatre divisions. In addition to the positive effects for DEAG’s international Live Entertainment business, the Executive Board expects up to an additional 500,000 ticket sales a year for DEAG’s ticketing business in the UK (myticket.co.uk).
DEAG Deutsche Entertainment Aktiengesellschaft
Notifying people: Prof. Peter Schwenkow (CEO), Christian Diekmann (COO/CDO), Detlef Kornett (CMO), Ralph Quellmalz (CFO)
+++ End of the ad hoc announcement +++