Live Nation Buys Controlling Stake in Bonnaroo
Published Apr 28, 2015Expanding its operations ever further, concert promotion and ticket sale company Live Nation has purchased a controlling stake in the annual Bonnaroo Music and Arts Festival.
The deal sees the company teaming up with the festival's founding partners Superfly and AC Entertainment, adding to Live Nation's already existing roster that includes events like Austin City Limits Music Festival, Lollapalooza, Reading, Leeds, T in the Park and Electric Daisy Festival.
"We continue to expand the industry's most unparalleled and scalable festival platform all while driving strong revenue and growth for Live Nation on a global basis," said Live Nation CEO and president, Michael Rapino, in a press release. "Bonnaroo is another crown jewel in this festival channel strategy, one that appeals to both fans and artists in uniqueness and experience."
Bonnaroo takes place in June each year, at Great Stage Park in Manchester, TN. The new partnership grants Live Nation part ownership of the event grounds, with plans in the works to enhance the site and overall festival experience. Superfly and AC Entertainment are expected to maintain daily operations.
"We are strengthening our commitment to create the best possible experience at Bonnaroo," said Rick Farman, co-founder of Superfly. "Through this partnership with Live Nation, we're even more empowered to enhance the festival while preserving the integrity of the event that we've thoughtfully built over the past 14 years."
AC Entertainment founder Ashley Capps added, "Partnering with Live Nation is a milestone for Bonnaroo. It opens up tremendous opportunities for us to continue to evolve the Bonnaroo experience in an exciting, powerful way."
Bonnaroo is scheduled to take place from June 11 to 14 this year, and you can see the lineup here.