LOS ANGELES and AUSTIN, Texas, Dec 19,
2014 /PRNewswire/ -- Live Nation Entertainment (NYSE:
LYV) announced today the completion of a transaction to acquire a
controlling stake in C3 Presents. C3, led by the management
team of Charles Attal, Charlie Jones and Charlie Walker, is one of the largest concert
promoters in North America, owning
and operating Austin City Limits Music Festival, producing
Lollapalooza, and promoting over 1,700 additional concerts and
events annually, as well as creating a growing portfolio of
emerging music and lifestyle festivals. In recent years,
Lollapalooza has become one of the most successful global festival
brands, with festivals in Berlin,
Buenos Aires, Santiago and Sao
Paulo, along with its iconic Chicago event.
"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."
C3 Presents books and promotes more than 1,700 annual events and
is the curator of several world renowned festivals including
Lollapalooza and Austin City Limits, both among the top five
festivals in North America. C3
Presents combined with Festival Republic, Live Nation's festival
and event promoter in Europe, now
gives Live Nation Entertainment the largest festival platform in
the world with over 65 festivals.
C3 relaunched Lollapalooza in 2005, and now attracts more than
700 thousand attendees each year globally. Austin City Limits has
doubled its attendance since 2012, with over 450 thousand attendees
in 2014. Led by Attal, Jones, and Walker, the Austin-based C3 Presents team will continue to
manage and build Lollapalooza, Austin City Limits and their other
events on behalf of Live Nation.
LionTree Advisors advised Live Nation and The Raine Group, which
invested in C3 in 2012, advised the Company on the transaction.
About Live Nation Entertainment
Live Nation Entertainment (NYSE: LYV) is the world's leading
live entertainment company comprised of global market leaders:
Ticketmaster, Live Nation Concerts, Live Nation Media &
Sponsorship and Artist Nation Management. For additional
information, visit www.livenationentertainment.com.
Follow us @twitter.com/LiveNationInc
About C3 Presents
C3 Presents creates, books, markets and produces live
experiences, concerts, and private events. C3 is the force behind
Austin City Limits Music Festival in Austin, Texas and Lollapalooza in Chicago, as well as Lollapalooza Argentina,
Lollapalooza Berlin, Lollapalooza Brazil and Lollapalooza Chile.
Other events in the C3 portfolio include the Austin FOOD & WINE
Festival, LouFest Music Festival, Music City Food & Wine
Festival, Wanderlust Yoga & Music Festival and more. C3 also
books and promotes more than 1,000 concerts in arenas, theaters,
casinos, and clubs across the US annually, making it the
third-largest promoter in the country. For more information, visit:
www.c3presents.com
* Subject to the receipt of all regulatory approvals and
customary closing conditions.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/live-nation-entertainment-expands-festival-portfolio-with-c3-presents-300012666.html
SOURCE Live Nation Entertainment