CTS EVENTIM, one of the leading international providers of ticketing services and live entertainment, is safeguarding the successful progress of its subsidiary Barracuda, Austria's biggest concert and festival promoter, against the backdrop of the scandal surrounding Commerzialbank Mattersburg, an Austrian bank.
DGAP-News: CTS Eventim AG & Co. KGaA
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CTS EVENTIM safeguards success of subsidiary Barracuda in midst of Austrian banking scandal (news with additional features)
31.07.2020 / 13:17
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Klaus-Peter Schulenberg, CEO of CTS EVENTIM, commented by saying, 'Even in times of Corona, we are pursuing a long-term corporate strategy and are fully aware of Barracuda's enormous potential. We are therefore pleased that Barracuda, one of most creative concert promoters in Europe, has been a member of our corporate family since early 2020, which also means a significant investment in Austria, a market that is so important to us. The team around Ewald Tatar, Barracuda's managing director, can rely on us totally, even in these turbulent times.' He added, 'We would like to emphasise at the same time that both CTS EVENTIM and the Barracuda Group will take any steps that are necessary to protect our rights in respect of the current situation at Commerzialbank Mattersburg.'
Ewald Tatar emphasised that 'We are immensely struck by the fast and uncomplicated way that CTS EVENTIM jumped to our side and are really very glad to have such a strong and flexible company as our parent. We are delighted for hundreds of thousands of music fans from Austria and abroad that we are able to carry on our successful work and that the future of Nova Rock, Frequency and hundreds of concerts a year is secure.'
CTS EVENTIM acquired a 71% stake in Barracuda Music at the start of this year. Since its establishment in 2004, the concert promoter has grown continuously and within a very short time has developed into a highly stable and healthy enterprise. The group brings together the activities of various independent concert promoters, including the organisers of the Electric Love, Frequency and Nova Rock festivals.The Rolling Stones, Ed Sheeran, Bon Jovi, Metallica, Phil Collins, Red Hot Chili Peppers, Elton John, Iron Maiden and Robbie Williams are just some of the artists whose appearances in Austria are organised by Barracuda Music. Since 2012, Barracuda has also been the exclusive promoter of concerts at the ancient castle of Burg Clam, which has since established itself as one of Austria's most renowned and popular venues.
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31.07.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||CTS Eventim AG & Co. KGaA|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1107607|
|End of News||DGAP News Service|