OR Alter Ego Media AE announced its participation in the equity capital of the company Stages Network as part of its strategy to expand its activities in the Live Entertainment industry and strengthen its presence in the entire spectrum of the creation and exploitation of cultural content.
As announced, Alter Ego Media will pay an amount of €1 million to acquire the existing shares of Stages Network and cover a share capital increase of €3 million in order to acquire a 49% stake in Stages Network. Alter Ego Media reserves the right to acquire an additional 9% of Stages Network, which can be exercised until 31.12.2027.
Stages Network is active in a wide range of cultural and entertainment activities, with an emphasis on theatrical and musical productions, the organization of live events, as well as the management of artistic spaces. Its portfolio includes ten historical theaters – Ivi, Dimitris Horn, Mikro Horn, Emporikon, Apothika, Piraeus 131, Embassy, Lampeti, Psyrri and Therino Lambeti – as well as the modern multi-purpose cultural center Stage Seven, with a total annual capacity of over 650,000 spectators.
Ioannis Vrentzos, CEO of Alter Ego Media said: “Our equity participation in Stages Network marks our expansion into the Live Entertainment industry, which is a key pillar of our future growth. We share with Stages Network the same commitment to producing quality cultural content and shaping enhanced entertainment experiences for audiences. This partnership reinforces our strategy of diversifying our revenue streams and investing in new forms of content and leveraging it across multiple platforms.”
Dionysis Panagiotakis – Founder, Stages Network said: “Partnering with Alter Ego Media is a defining step in Stages Network’s journey towards realizing our vision: to create a vibrant cultural hub where people, creators and technology come together to give every story the stage it deserves. The involvement of Alter Ego Media enables us to accelerate our growth, enhance creativity and offer audiences even richer and more innovative experiences.”