CTS Eventim To Acquire Majority Stake In Austrian Promoter Barracuda Music: Exclusive

FM4 Frequency Festival
Patrick Ziebermayr
– FM4 Frequency Festival
Scene from this year’s edition, which took place in St. Pölten, Austria, Aug. 15-17.

CTS Eventim is planning to acquire a majority stake in Austrian promoter Barracuda Music, Pollstar can reveal.
When asked for comment, CTS Eventim and Barracuda Music both confirmed that a possible transaction was currently being probed by Austria’s anti-trust authority BWB (Bundeswettbewerbsbehörde), adding that they didn’t want to comment any further while awaiting the result. 
According to the Austrian BWB, CTS Eventim is looking to acquire 71% of Barracuda Music’s business.
Barracuda Music was officially formed in 2016 as a merger of Austrian promoters Skalar, Red Snapper and NuCoast Entertainment, who had been collaborating under one roof for years at that point.
The transaction would add two of Austria’s biggest festivals, Nova Rock and FM4 Frequency, to CTS Eventim’s portfolio of events, as well as smaller festivals, including Two Days A Week, Lovely Days, Clam Rock, The Nova Jazz & Blues Night, and Vienna Sunsplash, plus established concert series such as FM4 Indiekiste, Beat The Fish, Mind Over Matter or The Nova Jazz & Blues Nights Presents.
At the time of its formation, Barracuda Music events sold some 800,000 tickets annually altogether.