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ots Ad hoc-Service: Dt. Entertainment AG <DE0005513907>DEAG takes over Loreley amphitheatre and considerably extends its venue market leadership in German speaking countries

Berlin (ots Ad hoc-Service) -

The sender is solely responsible for the contents of this
announcement.
DEAG takes over Loreley amphitheatre and considerably extends its
venue market leadership in German speaking countries
With a long-term lease DEAG takes over the Loreley amphitheatre in
St. Goarshausen, one of Germany's leading open-air venues and an
ideal supplement to the Waldbühnen in Berlin and Schwarzenberg, which
are likewise built as amphitheatres and operated by DEAG. Together
with the indoor venues Max Schmeling Arena and Velodrom in Berlin and
the Jahrhunderthalle in Frankfurt, recently taken over from Hoechst
AG, DEAG now has six multipurpose venues with a total visitor
capacity of almost 80,000, excluding the variety theatres operated by
DEAG in Berlin, Düsseldorf and Stuttgart.
The more than 60 years old Loreley amphitheatre, which is located
above the river Rhine, has a total capacity of 18,000 visitors. It
hosts numerous festivals, such as the legendary WDR Rockpalast
festival or the annual Loreley Opera Festival and is well known
beyond the regional borders.
Similar to the likewise listed SFX Entertainment, which has built
up a network of venues, including more than a dozen of amphitheatres,
in the USA during the last years, such a network of venues will
provide DEAG with a huge, artist-independent result potential. On the
one hand, synergies can be tapped in terms of costs, for instance
through pooling resources in procurement, e.g. through inter-location
power supply contracts or gastronomy partnerships. On the other hand,
the venues with their extremely emotional and hence valuable customer
contacts at the "point of consumption" represent an excellent
platform for the advertising industry and sponsors.
DEAG expects this venue strategy to result in an annual visitor
potential of 1.3 million spectators and sales revenues of more than
DM 40 million through income from letting, ticket sales and
gastronomy, amongst others.
Commenting on this move, DEAG CEO Peter Schwenkow said: "With the
conclusion of the lease for the Loreley amphitheatre we are extending
our clear market leadership in venue operation. Our strategic
orientation as a live entertainment service provider, which goes far
beyond the activities of a concert promoter and theatre operator, now
has the necessary critical mass to be also effective in the venues
segment. The know-how which is already available in the company, will
allow us to benefit from first synergy effects in venue management
already this year. Our proven expert knowledge based on a successful
track record of two decades of experience in the venue business was
the deciding factor for the Parliamentarian decision in St.
Goarshausen to co-operate exclusively with DEAG."
This Ad hoc Communication and further information can be accessed
in the DEAG News Archives under www.deag.de/ir or obtained from Dr.
Martin Fabel, Investor / Public Relations, Tel. 030-810750.
End of messasage
Internet: http://www.newsaktuell.de

Original-Content von: DEAG Deutsche Entertainment AG, übermittelt durch news aktuell

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