Paul Dainty, founder of one of Australia’s biggest concert touring companies Dainty Group, has sold his company to TEG creating the new corporation TEG-Dainty.
Paul Dainty is considered one of the world’s 20 most influential promoters and was ranked by Billboard as the 5th largest concert promoter in the world.
“Joining the TEG group is a great opportunity for us to be part of a fully integrated entertainment and touring business, Paul Dainty said. “Over the last 40 years we have had the opportunity to bring some of the world’s biggest names to Australia – Eminem, Hugh Jackman, Rolling Stones, Prince, Bon Jovi, Michael Bublé, Katy Perry, Paul McCartney, Neil Diamond, Oprah, Lionel Richie, George Michael, WWE and Billy Crystal to name a few, plus a range of theatrical productions such as Jersey Boys and Singin’ In The Rain. We look forward to building on this list and continuing our ongoing artist relationships as part of the TEG group.”
TEG CEO Geoff Jones said, “Bringing the Dainty Group Team into the TEG family is the culmination of a very considered process that was focussed on harnessing the best of both companies under the TEG-DAINTY banner. Paul Dainty has been recognised globally by peers as both influential and innovative in the live entertainment space. We are very excited about the potential for TEG-DAINTY, and TEG as a whole, now that we have one of the world’s leading promoters at the heart of our business.”
The sales of Dainty Group to TEG has created the biggest live event company in Australia since the takeover of Michael Coppel Presents by Live Nation.
Dainty’s previous amalgamations include the Consolidated Press Entertainment partnership with Kerry Packer’s Consolidated Press in 1996. That last 10 years. Dainty also dabbled in a short partnership with Richard Branson with an attempt to mount the Rolling Stones 50th anniversary tour worldwide. That fell over when Branson pulled out of the global deal.
The current deal was hammered out over a 12-month period. At one stage the two companies were looking at taking over Soundwave but were scared off when they saw the books. Their decision to not move forward brought the possibility of Soundwave continuing to an end and the company was placed into receivership.
Dainty Group’s current live events are Melanie Martinez August tour, Billy Crystal July August tour, Singin’ In The Rain and the wrestling event W Live.
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