DEAG Acquires Germany’s Classic Open Air Fest
Deutsche Entertainment Aktiengesellschaft (DEAG) acquired 85% of the shares in the Classic Open Air at Gendarmenmarkt in Berlin via its wholly owned subsidiary DEAG Classics AG.
Classic Open Air has been taking place since 1992 and has become one of the most renowned classical music and crossover events in Germany under the direction of Gerhard Kämpfe und Mario Hempel.
Classic Open Air attracts 25,000 to 30,000 visitors each year to the Gendarmenmarkt in the heart of Berlin. The festival’s light shows, fireworks and lasers are almost as renowned as the lineup. Highlights of the past 30 years include Till Brönner, Sarah Connor, Katie Melua, José Carreras, Al Jarreau, the Scorpions, Earth Wind & Fire, Montserrat Caballé, Udo Jürgens, Chris de Burgh, Roger Cicero, and Joja Wendt.
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By acquiring Classic Open Air, DEAG Classics AG is expanding its activities and strong market position in the Classics & Jazz segment. DEAG expects to achieve synergy effects in the concert business and in the acquisition of artists, among other areas.
The acquisition will also increase the volume of DEAG’s ticketing business. Mario Hempel, managing director of Media On-Line, the organizer of Classic Open Air, will remain a shareholder and continue to provide substantial long-term support and advice to the company together with DEAG Classics AG.
Prof. Peter L.H. Schwenkow, CEO of DEAG and Jacqueline Zich, divisional board member of DEAG Classics AG, released a joint statement: “We are adding an attractive festival series to our event portfolio, which has already hosted many top national and international stars in recent years. We are delighted to be able to contribute to the further development of Classic Open Air with our live expertise and outstanding network.”
Mario Hempel, Managing Director of Media On-Line: “I am very pleased to have found the right partner in Peter Schwenkow and DEAG Classics AG for the further development of Classic Open Air at Gendarmenmarkt, which will celebrate its 30th anniversary this year. DEAG has the potential to make this unique event even more international at one of the world’s most beautiful venues and I am very much looking forward to being able to accompany this.”