Live Nation Entertainment has completed a deal to acquire a majority stake in AC Entertainment, the independent promoter known for co-founding the Bonnaroo Music and Arts Festival, according to reports from Billboard.biz.
AC Entertainment CEO Ashley Capps will continue to lead the company he launched 25 years ago and no staffing changes are planned. According to Billboard, AC employs 40 full time staff in Knoxville, nine in Nashville, seven in Chattanooga, and also has offices in Louisville and Chicago. AC will continue to operate under its longtime name.
In 2015, Live Nation assumed a controlling interest in Bonnaroo from AC and co-founder Superfly. It also purchased a share of the festival site in Manchester, Tennessee.
The new deal adds the popular event to Live Nation’s portfolio of over 60 marquee festivals including Austin City Limits Music Festival, Lollapalooza, and Reading.
AC Entertainment is responsible for more than 1000 shows per year, including Forecastle in Louisville, Ky. and Big Ears in Knoxville. The promotion, production, booking and marketing company also handles club and theater booking, management, event marketing, and sponsorship services. It has venue deals in place for the Tennessee Theatre, and Bijou Theatre in Knoxville; and the Tivoli Theatre, and Memorial Auditorium, in Chattanooga.
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