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Business News Deals Live Business
Live Nation buys controlling stake in C3 Presents
By Chris Cooke | Published on Monday 22 December 2014
Live Nation has taken a controlling stake in Austin City Limits and Lollapalooza promoter C3 Presents, with the live music major rumoured to have spent in the region of $125 million to take a 51% shareholding in the smaller live entity. Reports that Live Nation was in talks to buy half of C3 Presents first surfaced back in October.
Referring to the three ‘Cs’ – C3 Presents founders Charles Attal, Charlie Jones and Charlie Walker – Live Nation boss Michael Rapino told reporters: “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”.
For their part, the Charlies responded: “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”.
