HMV to take over festival partner Mama Group in £46m deal

After dipping its toe into the live events market in partnership with Mama Group, HMV has decided to dive right in by purchasing the festival and artiste management specialist in a deal worth £46m.

HMV to takeover festival partner, Mama Group in £46m deal
HMV to takeover festival partner, Mama Group in £46m deal

As reported on recently, the high-street music retailer is to start Next Big Thing, a mini festival across various London venues designed to showcase new musical talent.

Next Big Thing is a collaboration between HMV and Mama Group, which runs 11 concert venues and manages artistes including Franz Ferdinand and the Kaiser Chiefs.

HMV currently owns a 9.9% share in the company but, if shareholders approve the deal, it will take full ownership and play a bigger part in the live music sector.

Mama Group's venues include the Barfly network, and it is involved in music festivals including Lovebox.

As previously reported, HMV was also set to partner GameOn, a now-cancelled gaming event.

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