BDG Music, a music promoter owned by businessman Peeter Rebane, has been acquired by US entertainment company Live Nation.
BDG will retain its current management but change its name to Live Nation Baltics. The exact terms and price were not dislocsed.
Since early 2012, BDG Music has produced more than 50 shows in the Baltics and sold more than 200,000 tickets, according to a statement from the companies.
"With this acquisition we now have operations in 43 countries. This further demonstrates our ongoing commitment to expanding our global footprint, which enables us to bring live entertainment to even more fans around the world," said Live Nation Entertainment president Michael Rapino in a statement.
The international music unit said that the acquisition of the BDG network would further cement Live Nation's position in Central and Eastern Europe.