Published
Tue, Nov 10, 2015, 14:30
- MAMA & Company's Dean James has invested in the firm that runs the two East London venues.
Sixth Media has acquired a stake in Big New Year, the company that runs East London venues Oval Space and The Pickle Factory, which opened its doors in October.
Dean James is the man behind Sixth Media—he also ran MAMA & Company, which was snapped up by entertainment giant Live Nation a couple of months back. As CMU report, James has bought a minority stake in Big New Year for an undisclosed sum. James said of the acquisition: "As one of the most exciting, creatively led, independent venue businesses out there right now, Sixth Media is delighted to be acquiring a stake in Big New Year. We have been following them closely for a while; at a time when many venues are closing and the venue industry is in upheaval, they have clearly cemented their position as one of the forerunners of the UK music scene. I am confident that their ambitious and uncompromising vision for the future is synergistic with Sixth Media's and we very much look forward to being involved in the company’s growth."
Jordan Gross, Big New Year CEO and Oval Space founder, said: "We are tremendously excited to announce our deal with Sixth Media. Since we opened in 2012, Oval Space has proved itself to be a vital addition to the capital's nightlife and live music scenes, and a palpable contributor to the wider cultural landscape within London. Despite the negativity in the press surrounding the current state of arts and music venues, I believe there is still room in the market for more quality venues, and I am thrilled to have Sixth Media involved as we enter a new chapter and seek to create more spaces for London."