Live Nation Purchases Controlling Share of Bonnaroo
We're only a little more than a month out from this year’s Bonnaroo, and the Manchester, Tenn.-based music festival’s leadership has announced a change in ownership. Live Nation has purchased a controlling share of the annual festival from co-founders Superfly and AC Entertainment.
While the monetary specifics of the deal weren’t revealed, Pollstar reported that the purchase includes Live Nation’s now part-ownership of Great Stage Park, the outdoor space Bonnaroo calls home every year. Live Nation CEO Michael Rapino offered this statement on the company’s acquisition:
The addition of Bonnaroo builds on Live Nation Entertainment’s world leading festival portfolio of over 60 marquee festivals such as: Austin City Limits Music Festival, Lollapalooza, Reading, Leeds, T in the Park, Electric Daisy Carnival, Rock Werchter, and Watershed Music Festival to name a few. 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.
Superfly and AC Enteratinment will remain active owners of Bonnaroo, managing the festival over the course of its four-day run and maintaining their commitment to the festival’s sustainability practices.
“We are strengthening our commitment to create the best possible experience at Bonnaroo,” Superfly co-founder Rick Farman said. “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.”
This year’s Bonnaroo will take place June 11-14, featuring a lineup that includes Mumford and Sons, Courtney Barnett, the War on Drugs, Spoon and more. Last week, the festival revealed its daily schedule.