Iconic German promoter Manfred Hertlein bought back all shares of his Manfred Hertlein Veranstaltungs GmbH from Gold Entertainment.

Gold Entertainment was founded in 2010 as a joint venture between DEAG and Sony Music to promote Schlager events, a uniquely German phenomenon.

Shortly after its inception, the company acquired 66.6 percent of Mafred Hertlein Veranstaltungs GmbH. Now Hertlein wants to realign his company and prepare it for the next generation.

“That would not be possible in the old partnership. To have an absolute free hand in my decisions, I decided to repurchase my shares. … I would like to thank Sony Music for a faithful and professional cooperation,” the promoter said.

With Hertlein taking back control, DEAG announced that it acquired 100 percent of Gold Entertainment to focus on Schlager and family entertainment events. It also announced that it would increasingly promote shows in the area around Frankfurt and the Rain and Main rivers on its own – including the area that had previously been covered by Hertlein as DEAG’s local partner.