Live Nation Entertainment Buys 51% Stake In Secret Sounds

(RTTNews) - Live Nation Entertainment Inc. (LYV) said that it has acquired 51% stake in Secret Sounds Group, the Australian company led by Jessica Ducrou and Paul Piticco, which owns and produces two of Australia's leading festivals: Splendour in the Grass (located in Byron Bay New South Wales) and Falls Music & Arts Festival (located in Byron Bay, Lorne Victoria, Marion Bay Tasmania and Fremantle Western Australia).

The acquisition also includes Secret Sounds' touring, sponsorship, PR, artist management and domestic agency businesses. The partnership excludes the Dew Process & Create Control Record Labels, Dew Process Publishing and its interests in the North Byron Parklands festival site and The Triffid venue in Brisbane.