The company’s assets include Bogotá festivals Estéreo Picnic, Baum Festival and Knotfest Colombia.
In a bid to expand its presence in the burgeoning Colombian touring market, Live Nation Entertainment has acquired a majority stake in Páramo Presenta. The Colombian promoter’s assets include the Estéreo Picnic festival — the largest festival in Colombia with an annual attendance of over 100,000; it was included onPáramo’s roster of festivals also includes the Baum Festival and Knotfest Colombia. Both also take place in Bogotá, the site of Estéreo Picnic.
“Colombia is a booming market, and we’re looking forward to working with our new partners at Páramo and longtime partners OCESA as we continue our expansion across Latin America,” said Live Nation president/CEO“We are excited to build upon our deep relationship with Live Nation, and welcome Páramo as a partner,” added OCESA CEO.
As for Páramo, the company was a pioneer in bringing large-scale events to Colombia at a time when there were none. “Almost 20 years ago, we embarked on this journey because we saw the opportunity to bring more artists we love to Colombia,” said Páramo Presenta CEOin a statement.
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