Live Nation Entertainment has acquired a controlling interest in the Bonnaroo music festival. Founding partners, Superfly and AC Entertainment will continue to operate the iconic event.
"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.
Additionally, Live Nation now also owns a share of the Bonnaroo property, Great Stage Park, also known as "the Farm." Investment in the site and enhancements to the festival experience are planned.
"The addition of Bonnaroo builds on Live Nation Entertainment's world leading festival portfolio of over 60 marquee festivals," said Michael Rapino, Live Nation CEO and president. "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."