PPF and Live Nation Form Partnership for Prague’s Leading Event Venues

PPF Group and international entertainment company Live Nation are entering into a partnership involving three of Prague’s most important event venues. The joint venture will take over their day-to-day operation, bookings and programming.

Czech investment group PPF has announced a partnership with Live Nation, one of the world’s leading live entertainment companies. The partnership covers the O2 Arena, O2 universum and Forum Karlín in Prague.

The partnership aims to bring more international events to the Czech capital and strengthen its importance as a destination for concerts and other live events. For the first time, several of Prague’s leading event venues will be directly connected to a global entertainment company.

Live Nation to Hold 51 Per Cent Stake

A new joint venture will be established for the partnership. Live Nation will hold a 51 per cent stake, while PPF subsidiary Bestsport will hold the remaining 49 per cent.

The joint venture will take over the day-to-day operation, bookings and programming of the three event venues. Live Nation will contribute its international experience in organising and marketing live events.

Foto: Prague City Tourism

The inclusion of Forum Karlín expands the new company’s range of venues. In addition to large-scale events at the O2 Arena and O2 universum, it will also be able to host concerts and events on a smaller scale.

Event Venues to Remain Owned by PPF

The O2 Arena, O2 universum and the associated properties will remain wholly owned by PPF or its subsidiary Bestsport. The established names of the three event venues will also be retained.

According to PPF, the partnership is intended to further develop the long-term value of its event venues and strengthen their international profile. At the same time, the collaboration is expected to increase the number and significance of events held in Prague.

Completion of the transaction remains subject to customary regulatory approvals.