Opry Entertainment Group Acquires Stake in Southern Entertainment
Deal News | Jan 14, 2025 | Globenewswire
Opry Entertainment Group (OEG), a subsidiary of Ryman Hospitality Properties, has acquired a majority stake in Southern Entertainment, a leading music festival and events production company based in Charlotte, NC. Southern Entertainment is known for organizing prominent festivals such as the Carolina Country Music Fest and Barefoot Country Music Fest. This acquisition marks OEG's strategic expansion into the live music festival sector, aligning with their aim to offer dynamic and unforgettable experiences. Southern Entertainment, led by co-founders Bob Durkin and Rob Pedlow, will continue to operate with the support of OEG's resources, focusing on growing their festival reach. The collaboration is expected to enhance both companies' audience reach and contribute additional value to Ryman's entertainment segment.
Sectors
- Entertainment
- Hospitality
Geography
- United States – Both Opry Entertainment Group and Southern Entertainment are based in the United States, with festival events spanning multiple states including South Carolina, North Carolina, and New Jersey.
Industry
- Entertainment – The core focus of Southern Entertainment and Opry Entertainment Group is within the entertainment industry, specifically live music events and festivals.
- Hospitality – Both Opry Entertainment Group and Ryman Hospitality Properties operate within the hospitality sector, providing themed venues and hospitality services.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Opry Entertainment Group | Bidding Company | Company | A subsidiary of Ryman Hospitality Properties, involved in producing multi-platform entertainment experiences, including live music events. |
| Southern Entertainment | Target Company | Company | A live events, hospitality, and production company known for organizing independent music festivals across the United States. |
| Ryman Hospitality Properties, Inc. | Parent Company | Company | A leading lodging and hospitality real estate investment trust that owns a controlling interest in Opry Entertainment Group. |
| Patrick Moore | Chief Executive Officer | Person | CEO of Opry Entertainment Group, overseeing the acquisition and expansion plans. |
| Bob Durkin | Co-founder | Person | Co-founder of Southern Entertainment, continues to lead the company post-acquisition. |
| Rob Pedlow | Co-founder | Person | Co-founder of Southern Entertainment, continues to lead the company post-acquisition. |