German ticketing and live music firm CTS Eventim has announced a new joint venture with veteran North American concert promoter Michael Cohl, who for a stint in the 2000s was Chair of the Live Nation board. Under the new deal, Eventim and Cohl will "actively acquire world-class content for global touring". What fun!
Eventim says that the new partnership marks the "next milestone" in the development of its Eventim Live promoter network. "Both partners will contribute to the partnership", it adds. "While Michael Cohl will add his concert business and comprehensive network, CTS Eventim will provide full access to the Eventim Live network, ticketing platform and its full portfolio of products and services around live events".
Each party will have a 50% stake in the new joint venture, which will be run by Cohl and Glenn Orsher from their New York base.