Superstruct Releases Ownership of Sziget Festival

Sziget, the prominent music festival based in Budapest, Hungary, is no longer a part of the Superstruct Entertainment portfolio. According to IQ, the separation was mutually agreed upon by both parties.

Why it matters:

• Superstruct is owned by Kohlberg Kravis Roberts (KKR), a private equity firm with ties to funding military operations in Israel.

• Such investments have created controversy within the creative community, leading to boycotts of other KKR events, including Boiler Room and Field Day.

• Sziget’s founder, Károly Gerendai,  and management team are once again in control of the event, marking a return to an independent structure.

Background:

• Superstruct purchased a 70% stake in Sziget in 2017.

• It was the first major festival acquired by the entertainment company.

• The festival has confirmed its 2026 dates in the wake of this announcement.

What they said:

• Sziget CEO Tamás Kádár: “Superstruct’s period of operational involvement in the festival allowed us to navigate the pandemic and to invest in the quality of the festival experience for visitors from across Europe – we are grateful for all their support.”

• Gerendai: “The ownership structure will be continuously evolving in the coming weeks. In addition to management, we are also negotiating with major subcontractors and partners, with whom we would like to finance the festival.”