Portugal news – The takeover of Portugal’s Altice Arena by the world’s largest entertainment company, Live Nation, was just announced. Live Nation, that is based in Los Angeles, is traded on the NYSE and on the S&P 500.
Last Summer, Live Nation organized 11,000 concerts for 44 million spectators in 50 countries. The income obtained for last summer’s events was over USD 5 billion, that is 67% more than in the summer of 2019.
Live Nation has become the majority shareholder of Portugal’s largest indoor arena through a takeover of Portuguese promoter Ritmos e Blues and Arena Atlântico, that manages Altice Arena, in Lisbon.
Portugal’s Altice Arena is among Europe’s largest indoor arenas. The arena holds the yearly Web Summit that attracts over 70,000 attendees. It has also held concerts by celebrities such as Lady Gaga, Beyonce and Madonna.
Produced by Live Nation, Madonna’s 35-city global Celebration Tour, that will kick off in North America, will be held in Portugal on November 6-7th 2023 at the Altice Arena.
With the takeover of Portugal’s Altice Arena, the world’s largest entertainment company will be placing Portugal on the map for major future events.