Live Nation has acquired a controlling interest in Bonnaroo, which means the festival is no longer independent.
Until now, Bonnaroo has solely been run by founding partners Superfly and AC Entertainment. These founding partners will continue to run the festival’s day-to-day operations, they just have to answer to Live Nation now.
Additionally, Live Nation now owns part of Bonnaroo’s venue, nicknamed ‘The Farm’. Live Nation says they will invest in the property to “enhance” it.
This follows Live Nation’s acquisition of a controlling interest in C3 Presents in late 2014. C3 is behind Austin City Limits, Lollapalooza, CounterPoint, and other festivals.
Michael Rapino, Live Nation CEO and President, says:
“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. Bonnaroo is another crown jewel in this festival channel strategy, one that appeals to both fans and artists in uniqueness and experience.”
Nina Ulloa covers breaking news, tech, and more. Follow her on Twitter: @nine_u