Cirque Shift In Brazil
Billionaire Eike Batista, chairman of EBX Group, has joined in a partnership that will bring Cirque du Soleil to South America, a shift from previous promoter T4F Entretenimento SA.
The latter is known for touring acts like Lady Gaga and Walt Disney musicals through the Southern hemisphere, but Cirque du Soleil is considered by analysts to be one of its primary assets, analysts told Bloomberg.
Analysts still expect the company to end 2012 with a better sales growth than Live Nation, but its stock took a dip after the Cirque announcement.
Cirque will be toured by IMX, a partnership between EBX Group and IMG Worldwide.
“We are very pleased to be partnered with Eike Batista,” Mike Dolan, IMG’s chairman, said. “In a very short time, IMX has become the most important sports and entertainment company in Brazil.”
T4F still has Cirque’s “Corteo.” The company has a contract that ends January 2015.
IMX is headquartered in Rio de Janeiro. Its branch IMX Live acquired 50 percent of Rock World S.A., the company that owns the Rock In Rio brand.
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