Earlier this year, rumors floated around that ticketing and event production giant Live Nation were in “advanced talks” to acquire event promotions company, C3 Presents, the company behind Lollapalooza, Austin City Limits, and more. Today, in an announcement by Live Nation, the acquisition of C3 Presents was made official, only furthering adding to Live Nation’s already impressive portfolio. Speculation behind the deal valued it at $250 million, and gave Live Nation a 51% majority stake in C3 Presents.

C3 Presents now joins Live Nation’s previous acquisitions of Insomniac Events, HARD Presents, Festival Republic, and Country Nation to help solidify Live Nation’s position as the global leader when it comes to festival production. In a statement released by Live Nation today, president and CEO Michael Rapino stated “the Charlies (C3 Presents were run by the management team of Charles Attal, Charlie Jones, and Charlie Walker) 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.”

By adding C3 Presents and their festival roster, which is comprised of Lollapalooza, Austin City Limits and more, to their ever-growing list of festivals, Live Nation now has a hand in some of the biggest events in North America. Lollapalooza, C3 Presents most iconic festival series, attracts over 700,000 attendees globally, and include satellite festivals across the world in cities such as Berlin, Sao Paolo, Buenos Aires, and Santiago. With this acquisition, one thing is clear - festivals are here to stay.

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