DEAG and Sony Music continue their successful collaboration at DEAG Classics

• Professor Peter Schwenkow extends his contract as CEO of DEAG Classics ahead of schedule
• DEAG Classics preparing to enter classical market in other countries

Berlin, October 09, 2013 - DEAG Deutsche Entertainment AG (ISIN DE000A0Z23G6) and Sony Music Entertainment have announced key developments regarding their partnership at DEAG Classics AG, which they entered into four years ago. Professor Peter L.H. Schwenkow, CEO of DEAG and DEAG Classics, has agreed to extend his contract with DEAG Classics ahead of schedule until the end of 2016. The agreement now concluded and approved by the relevant bodies of the two companies, represents a further milestone in the successful development of DEAG Classics. On this basis the partners plan the near-term market entry of DEAG Classics in other countries. Concrete preparations have already been concluded.

DEAG Classics AG, a German stock corporation, is owned 51% by DEAG and 49% by Sony Music Entertainment.

Bogdan Roscic, President of Sony Classical: “As a partner in DEAG Classics AG, Sony Music looks forward to working with DEAG toward the company’s continued success and growth in the classical music market. Sony Music is pleased that Peter Schwenkow has extended his commitment ahead of schedule, providing the company with his expertise and continuity during the years to come.”

Professor Peter L.H. Schwenkow, CEO of DEAG and DEAG Classics: “The past years have shown that DEAG and Sony Music perfectly complement each other as co-owners of DEAG Classics. We hope to leverage this productive business collaboration to achieve even greater success as DEAG Classics expands to other countries.”

DEAG Deutsche Entertainment AG
The Executive Board

DEAG Deutsche Entertainment AG is a leading provider of live entertainment and the largest organizer of high-margin classical events in Europe. Founded in 1978 and stock-listed since 1998, the company draws on 30+ years of experience.

With group companies in Germany, the UK and Switzerland, DEAG stages 1,500+ events and sells 3.5 m tickets per year in the fields of family entertainment, rock/pop, classical and German music. The company also operates venues in Frankfurt/M, Stuttgart and Zurich.

In the concert business, DEAG acts as both tour organizer and local promoter, ensuring additional risk diversification through its broad positioning. During recent years, DEAG continuously enhanced its value chain by implementing a comprehensive “360-Degree Approach.” With its own music label DEAG Music and a wide range of activities in publishing rights, live recording, sponsoring, merchandise, ticketing etc and powerful partners such as Sony Music Entertainment, Ticketmaster, Ringier AG et al, DEAG is perfectly positioned as an integrated and highly synergistic international Entertainment Content Company.

Contact for further information:

Axel Mühlhaus
edicto GmbH
Eschersheimer Landstraße 42
60322 Frankfurt am Main
Tel: +49-69-90 550 552
Email: deag@edicto.de

This release was published on openPR.