Live Nation Entertainment Acquires AC Entertainment
October 31, 2016 at 11:59 AM (PT)
LIVE NATION ENTERTAINMENT has completed 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 festival takes place. LIVE NATION acquired a majority ownership in the FESTIVAL last year (NET NEWS 4/28/15).
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.
“[AC ENTERTAINMENT Founder/CEO] ASHLEY CAPPS 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 LIVE NATION Co-Pres. NORTH AMERICAN CONCERTS BOB ROUX. "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."
Added CAPPS: “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. 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.” CAPPS will continue to lead AC ENTERTAINMENT, which will operate under its name, with headquarters in KNOXVILLE and regional offices in NASHVILLE and CHATTANOOGA.