DEAG acquires UK Flying Music Group

Through its British subsidiary Kilimanjaro Live, German promoter DEAG has purchased 60 percent of London-based tour, musical and theater promoter Flying Music Group. 

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“The purchase price of approximately £5m will possibly increase later, depending on its future business development until 2019,” the DEAG announcement states.

Flying Music Group has been profitable since its inception in the ‘70s.

In the fiscal year 2016/2017, the company generated sales of around euro 20 million. DEAG believes the company will increase its group sales in the UK to more than euro 100 million in 2018.

DEAG has long identified family entertainment as an area of growth. Adding the promoter of “Thriller – Live,” “The Rat Pack Live from Las Vegas” and “The Kite Runner” complements the German entertainment giant’s growth strategy.

“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),” the company stated. 

A representative told Pollstar that the entire Flying Music Group will stay on board.