Live Nation can now add another music festival to their long growing roster of music-centric events; Bonnaroo.
Last night, Billboard and several other publications began to report that the large concert venture had purchased a controlling stake in the Tennessee-based music festival.
As of now, Live Nation owns stakes in over 60 music festivals including: Austin City Limits, Lollapalooza, Reading and Leeds, T in the Park, and many more.
According to reports, Superfly Production and AC Entertainment, who founded the festival, will continue to run the day-to-day operations for the festival which is set to take place in early June.
“We are strengthening our commitment to cater 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.”
“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,” said Ashley Capps, founder AC Entertainment.
But the controlling stake in the festival isn’t the only thing Live Nation has acquired. The concert promoter has also purchased a share of the Bonnaroo property, Great Stage Park, also known as “The Farm.”
No telling what this means for the festival. Some say that it could be a good thing, like the founders claim, but it can also work against them especially if Live Nation decides to up the price of tickets which already costs attendees $350 for the weekend.
All that can be done is sit back and see.
This year’s line-up is set to take place from June 11-14 and will feature performances by Billy Joel, Kendrick Lamar, and Deadmau5