Live Nation Entertainment, Inc. (NYSE:LYV) said Wednesday it agreed to acquire Italy-based venue operator ForumNet Group.
The deal strengthens Live Nation’s expansion strategy in Southern Europe.
Live Nation signed an agreement to purchase ForumNet Group from Bastogi S.p.A. The transaction deepens Live Nation’s presence in Italy’s live entertainment market.
The acquisition centers on Unipol Forum, a major arena located near Milan. The venue hosts large-scale concerts, sporting events and international tours.
In the third quarter, reported in November, Live Nation posted a record stadium-show count, up 60%, and hosted more than 51 million concertgoers. Ticketing revenue rose to $798 million, and Ticketing AOI increased to $286 million.
Venue Background
Unipol Forum has attracted millions of visitors annually since opening in the early nineties. The arena regularly features prominent Italian and global performers.
The venue also serves as home court for the Armani Olimpia Milano basketball team. It will host skating events during the upcoming Winter Games.
Live Nation plans to invest heavily in venue upgrades following the acquisition. Improvements will target fan amenities, artist facilities and production infrastructure.
The company also plans environmental upgrades aimed at reducing emissions.
Management said sustainability remains central to long-term venue operations.
The transaction includes Teatro Repower and operational oversight of Carroponte. These venues broaden Live Nation’s footprint across indoor and outdoor formats.
The existing ForumNet team will continue running daily operations.
Live Nation said it will preserve relationships with local promoters and partners.
“The ForumNet venues will continue under an independent management team, maintaining longstanding relationships with all partners and promoters,” said Roberto de Luca, president of Live Nation Italy.
“These venues have been at the heart of Milan’s cultural life for decades. Partnering with Live Nation ensures they will continue to thrive, welcoming fans and artists from both Italy and around the world for years to come,” said Marco Cabassi, president of Bastogi Group.
Together, these venues play a major role in Italy’s live entertainment sector, which generated EUR4.5 billion ($5.31 billion) nationally in 2024.
Per a press release dated November 9, Live Nation refinanced $1.9 billion of debt and added $1.5 billion in liquidity, lowering its weighted average cost of debt to 4.2%.
The company reported about $2.3 billion in free cash and said pro-forma leverage stood at 3.5x.
LYV Price Action: Live Nation Entertainment shares were down 0.15% at $141.13 at the time of publication on Wednesday, according to Benzinga Pro data.
Photo: Piotr Swat via Shutterstock
