California based event company Live Nation Entertainment has announced that they will require a large stake in C3 Presents, Austin’s independent concert promotion company responsible for annual events including Lollapalooza, Austin City Limits and more.
Though the terms of the acquisition have not been revealed, Live Nation (which is the largest of it’s kind in the industry,) will hold a majority stake in C3.
C3 founders Charles Attal, Charlie Jones and Charlie Walker have released the following statement:
“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.”