Max SteventonGerman-based promoter, ticketing and venue giant Deutsch Entertainment AG (DEAG) has completed a 100% acquisition of Fane Productions, organisers of spoken word, literary and cultural live events.
Fane was acquired by Kilimanjaro and Gigantic Tickets-owner DEAG in October 2021. The German company has now bought the remaining 25.5% giving it total ownership.
Among Fane’s major recent projects include Barack Obama being the subject of an ‘in conversation’ event series taking in London’s 20,000-capacity The O2 arena on 24 September and the 13,000-capacity 3Arena in Dublin on 26 September.
DEAG said the full acquisition of Fane represents its desire to move into different sectors of the live entertainment industry, namely literature and spoken word events. The move will see Fane Productions CEO Alex Fane become a board member at DEAG.
The literary and spoken word live entertainment sector is becoming increasingly succesful. Growth is reflected in major events such as the Cheltenham Literary Festival, which this year sold 100,000 tickets – its highest ever ticket sales.
DEAG’s latest acquisition is the latest growth move for the company. In September, DEAG acquired Germany’s Rockharz Festival, one of the countries biggest rock and metal festivals. Last month, DEAG also launched production agency Medea Live, further diversifying its offerings.
DEAG Group CEO Detlef Kornett said, “Our partnership with Fane Productions and Alex Fane has flourished over the past four years, as reflected in our strong and dynamic financial performance. A full acquisition was therefore a natural and strategic next step for DEAG.”
“It has been a highly productive four years working with the DEAG Group”, said Fane. “This is a very exciting moment for the Spoken Word and Literary Events sector, and I am confident that the combined strengths of the DEAG Group and Fane will generate significant and sustained growth in the years to come.”