Live Nation Acquires Concert Promoter C3 Presents, Including Lollapalooza, Austin City Limits
December 23, 2014 at 7:13 AM (PT)
LIVE NATION ENTERTAINMENT has acquired a controlling stake in AUSTIN-based concert promoter C3 PRESENTS, led by the management team of CHARLES ATTAL, CHARLIE JONES and CHARLIE WALKER.
One of the largest concert promoters in NORTH AMERICA, C3 PRESENTS owns and operates AUSTIN CITY LIMITS FESTIVAL, LOLLAPALOOZA and 1,700 additional concerts and events annually, as well as creating a growing portfolio of emerging music and lifestyle festivals. LOLLAPALOOZA has become one of the most successful global festival brands, with festivals in BERLIN, BUENOS AIRES, SANTIAGO and SAO PAULO, along with its flagship CHICAGO event. This deal had been expected for some time. No other details of the financial transaction were announced.
"The CHARLIES have proven they are among 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 LIVE NATION President/CEO MICHAEL RAPINO. "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, 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 700,000 attendees each year globally. AUSTIN CITY LIMITS has doubled its attendance since 2012, with over 450,000 attendees in 2014.
LIONTREE ADVISORS and THE RAINE GROUP, which invested in C3 in 2012, advised LIVE NATION on the transaction.