Live Nation Acquires C3 Presents
Live Nation Entertainment announced today that it has acquired Austin-based promoter C3 Presents, the company behind festivals such Austin City Limits and Lollapalooza, as well as producing over 1,700 additional concerts and events annually. Led by Charlie Attal, Charlie Jones, and Charlie Walker, the C3 Presents team will continue to manage and build Lollapalooza, Austin City Limits and their other events on behalf of Live Nation. Terms of the acquisition were not disclosed.
Lolla is easily the brightest gem in the crown of this acquisition for Live Nation. Originally cast as a touring festival in 1991, the brand's cachet had visibly dimmed until C3 Presents relaunched the event in 2005. Since then, Lolla has become one of the most successful global festival brands, expanding from its initial location in Chicago with festivals added in Berlin, Buenos Aires, Santiago and Sao Paulo, drawing more than 700,000 fans to the event in 2014.
Austin City Limits has also proven to be a successful event for C3 Presents and has doubled its attendance since 2012, with more than 450 thousand making the scene in 2014
"The Charlies have proven they are amongst the most successful entrepreneurs in the concert industry. I have long admired what they built and now I look forward to working alongside them as they continue to build a world class festival company," said Michael Rapino, president and chief executive officer, Live Nation Entertainment. "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."
Attal, Jones and Walker added, "We are excited to join Live Nation and become a part of their global family, while continuing to grow our festivals within a culture of entrepreneurship that will empower our team to keep improving these festivals and the fan experience." – via Celebrity Access