Live Nation has acquired a majority stake in C3 Presents, the promoter behind Austin City Limits, Lollapalooza, and other festivals.
Financial information has not been disclosed. The deal had been expected for some time.
Beyond ACL and Lollapalooza, C3 also produces Big Day Out, CounterPoint, and Wanderlust Festival. They also buy talent for 35 Caesar Entertainment venues and The Cosmopolitan.
Live Nation Entertainment President and CEO Michael Rapino says:
“I have long admired what (C3) built and now I look forward to working alongside them as they continue to build a world class festival company. Adding C3, the leading festival portfolio in North America, to our global portfolio of Insomniac, Festival Republic and Country Nation provides Live Nation with the world’s largest festival platform.”
Nina Ulloa covers breaking news, tech, and more. Follow her on Twitter: @nine_u
Image by Nick Simonite