Live Nation Entertainment, Inc. (NYSE:LYV) entered into definite agreement to acquire 51% stake in Ocesa Entretenimiento, S.A. de C.V. from Grupo Televisa, S.A.B. (BMV:TLEVISA CPO) and Corporación Interamericana de Entretenimiento, S.A.B. de C.V. (BMV:CIE B) for MXN 8.8 billion on July 24, 2019. Under the terms of the transaction, Live Nation will acquire 40% from Grupo Televisa for MXN 5.206 billion. On or before closing, Televisa also expects to receive a dividend of approximately MXN 350 million. Live Nation will acquire 11% stake in Ocesa Entretenimiento from Corporación Interamericana de Entretenimiento for MXN 3.629 billion. As part of the transaction, Live Nation also planned to buy an interest in OCESA's booking and artist management joint venture OcesaSeitrack, corporate event specialist CREA, and Centro Citibanamex, an exhibition and convention center in Mexico City. Following completion, Michael Rapino, President and Chief Executive Officer of Live Nation Entertainment, will be the Chairman of the Board of OCESA. Alejandro Soberón Kuri, founder of CIE, will serve as Chief Executive Officer and Board Member of OCESA, and continue holding his positions as Chief Executive Officer and Chairman of the Board of CIE. The consummation of transaction is subject to the approval of the relevant regulatory authorities and to the closing of the sale by Corporación Interamericana de Entretenimiento, S.A.B. de C.V. to Live Nation of a portion of its stake in Ocesa. The acquisition has been approved by the Boards of Directors of Live Nation, CIE, and Televisa. Transaction has been approved by Mexican regulators in mid-April 2020. On May 5, 2020, Live Nation Entertainment, Inc. informed that they are not obligated to close the acquisition and a standstill agreement has been reached for discussions. The parties anticipate that the transaction will close by the end of 2019. As of February 27, 2020, transaction is expected to close sometime in the second quarter of 2020. LionTree Advisors acted as financial advisor to Live Nation. Rothschild & Co acted as financial advisor to Corporación Interamericana de Entretenimiento. Live Nation Entertainment, Inc. (NYSE:LYV) cancelled the acquisition of 51% stake in Ocesa Entretenimiento, S.A. de C.V. from Grupo Televisa, S.A.B. (BMV:TLEVISA CPO) and Corporación Interamericana de Entretenimiento, S.A.B. de C.V. (BMV:CIE B) on May 15, 2020. As of May 26, 2020, the standstill agreement has expired without reaching an agreement among the parties.