LOS ANGELES, CA (Oct. 31, 2016) – Live Nation Entertainment (NYSE: LYV) announced today the completion of a deal to acquire a majority stake in AC Entertainment, a leading live entertainment company offering promotion, production, booking and marketing for concerts and festivals, club and theater booking, management, event marketing and sponsorship services.
AC Entertainment co-founded The Bonnaroo Arts and Music Festival in 2002, and the company continues to co-produce it and maintain the Great State Park, where the iconic festival takes place. As an industry leading festival producer, AC’s portfolio also currently includes Forecastle, Big Ears and Sloss Music and Arts. Focused on the Southeastern U.S., AC Entertainment is responsible for more than 1,000 shows per year and also offers strategic partnership services and venue management for sites including the Tennessee Theatre, Bijou Theatre, Tivoli Theatre, Soldiers and Sailors Memorial Auditorium.
“Ashley and his amazing team have created an impressive roster of live events and developed a strong network and regional expertise that will complement Live Nation’s festival and concert portfolio,” said Bob Roux, Live Nation’s Co-President, North American Concerts. “This new working relationship with AC will offer exciting synergies that will enable us to continue to grow both of our businesses together in the coming years.”
“We’re proud of what we’ve accomplished at AC Entertainment during the past 25 years and are now excited to take the next step, “said Ashley Capps, Founder and CEO of AC Entertainment. “We’ve worked with the Live Nation team in various capacities for years – and especially during the past 18 months on Bonnaroo – and it became clear that they were the best strategic partner for AC’s continuing evolution. There are extraordinary opportunities to come from working together.”
AC Entertainment will continue to be led by Ashley Capps and will operate under its name, with headquarters in Knoxville and regional offices in Nashville and Chattanooga.
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.
AC Entertainment
AC Entertainment is internationally recognized as an innovate leader in creating, producing, booking and marketing live entertainment experiences. They are the founders and producers of the iconic Bonnaroo Music and Arts Festival in Tennessee as well as the Forecastle Festival, the innovative Big Ears Festival, Sloss Fest, and more. AC operates and manages historic theaters such as the Tennessee and the Bijou in Knoxville and the Tivoli in Chattanooga and books leading venues throughout the region, presenting over 1000 concerts and shows annually.
Live Nation Media Contact:
Carrie Davis
(310) 975-6941
[email protected]
Live Nation Investor Contact:
Maili Bergman
310.867.7081
[email protected]