Live Nation Acquires AC Entertainment

It was announced this week that Live Nation has acquired Bonnaroo co-founders AC Entertainment. Live Nation had purchased a majority stake in Bonnaroo last year, but had not included the festival's producers in the deal until now. Tennessee based, independent promotor AC Entertainment presents and produces concerts and festivals, and its' acquisition will give Live Nation a bigger stake in more markets across the Southeast. AC Entertainment CEO Ashley Capps said of the deal, "Of course, we didn't do this deal to continue 'business as usual,' but the plan is smart growth from the core business platforms that we have in place. We'll be able to do more, to be more effective, with the access to the extraordinary relationships, expertise, and resources that Live Nation brings to the table." Read more on the deal, and what it means for both companies here.