German DEAG Ups Its Stake In The Classical Company To 100 Percent

Brad Barket/Getty Images – Anna Netrebko
One of the artists, DEAG has been promoting for a long time.

Berlin based Deutsche Entertainment AG (DEAG) has announced the acquisition of 50 percent of the shares in The Classical Company AG from Switzerland.

Swiss company Ringier AG held 50 percent of the share, which DEAG will acquire through its fully-owned subsidiary DEAG Classics AG, to hold 100 percent of the company.

The German live entertainment giant thereby continues ist strategy of successively reduce minority interests and increase earnings per share.

The process started this summer, when Sony Music Germany sold its 49-percent share in DEAG Classics AG to DEAG, through which it now bought the remainder of The Classical Company.

“Ringier AG will continue to support business activities in Switzerland as a media partner until 2020,” the announcement states.

DEAG enjoys a strong foothold in the classical and jazz genres, where it claims long-term and exclusive relationships with artists. Through taking full control of The Classical Company, DEAG plans to expand its international activities on both genres.

The Classical Company AG was founded in 2010 by DEAG and Ringier, and has developed into one of the leading promoters of classical music concerts in Switzerland, working with artists including Lang Lang, David Garrett, Nigel Kennedy, Anna Netrebko, The Piano Guys and Rolando Villazón.

Over the past few months, DEAG has consistently reduced minority interests in its Classics & Jazz and Ticketing divisions.