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Business News Deals Live Business
James Barton’s Superstruct buys into Sonar
By Chris Cooke | Published on Monday 2 July 2018
US investment firm Providence Equity Partners has acquired a majority stake in the company behind the Sonar festivals, according to IQ.
Providence formed a new music-focused division last year called Superstruct. It’s headed up by Cream founder and former Live Nation dance music chief James Barton and former Ingenious music investments man Paul Bedford.
The latter said last year that the aim of the new venture was to build “a federation of festival brands”. Its first investments were in Hungary’s Sziget festival and Spanish promoter Elrow.
Like Elrow, the company behind Sonar is also based in Barcelona, the city most closely associated with the electronic music focused festival and its spin-off activities. Though, of course, there have now been Sonar events in numerous other cities around the world including São Paulo, Reykjavik, Buenos Aires and Istanbul.
IQ says that Superstruct’s deal with the Sonar company was originally agreed in March.
