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Live Nation buys majority stake in independent concert promoter

Live Nation Entertainment Inc. acquired a majority stake in ScoreMore Shows, an independent concert promoter and festival producer in the U.S.

The Austin, Texas-based company promotes hundreds of regional shows, and oversees a roster of growing music festivals, including JMBLYA, Neon Desert Music Festival, Mala Luna Music Festival, as well as launching J. Cole's Dreamville Music Festival, the company said May 30.

Financial terms of the deal were not disclosed.