Months ago, we reported that Live Nation was planning to purchase a majority stake in C3 Presents, the Austin-based promoters behind Lollapalooza, Austin City Limits and more. Last Friday, this deal was finally completed.
Live Nation now controls a 51% share in the company, which is estimated to be worth nearly $250 million, making their stake worth upwards of $125 million. It marks one of Live Nation’s largest acquisitions to date.
A statement from C3 reads:
“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.”
Best of luck to both companies in this exciting new business venture!