Hughes Hubbard & Reed represented The Madison Square Garden Company (MSG) in its purchase of a controlling interest in the production company behind the popular music festival named Boston Calling.
The deal, announced on July 6, will facilitate growth of Boston Calling Events (BCE) and expand MSG's festival offerings. (Hughes Hubbard also represented MSG in its 2014 purchase of a 50 percent stake in the parent company of the acclaimed Tribeca Film Festival.)
Under the terms of the deal, BCE will give MSG access to rising artists that can go on to play its venues. The partnership will also enable both companies to explore joint cross-promotion, sponsorship, marketing and booking opportunities.
"We have been exploring music festivals as a way to further expand and strengthen our position in the 'live experience' space and are very pleased to welcome Boston Calling Events to the MSG family," said David O'Connor, president and CEO of The Madison Square Garden Company.
Since its 2013 inception, the Boston Calling Music Festival has earned critical acclaim from Rolling Stone and The Boston Globe for everything from its diverse music lineup to its quality production. BCE also organizes several other events in addition to the three-day festival, including the Boston Calling Block Parties and the Copenhagen Beer Celebration.
MSG, which has had a presence in the Boston music scene for the last eight years thanks to a booking agreement with the Wang Theatre, will use its knowledge of the market to help BCE grow its signature event. Starting in 2017, Boston Calling, which traditionally occurred over two weekends during the year, will take place annually on Memorial Day weekend and move to a new location with expanded capacity.
The deal drew coverage in The Boston Globe and other local news outlets.
Ken Lefkowitz and Michael Traube led the deal team, which included Andy Braiterman, Sarah Downie, Steve Greene, Matt Syrkin, Avner Bengera, David Gold and paralegal Andrew Hsu.