Live Nation Buying Out Superfly’s Share of Bonnaroo
Competition organizer will not have a job within the pageant going ahead.
It seems that 2019 was the final 12 months on the Farm in Manchester, Tenn. for Bonnaroo co-founder Rick Farman with Superfly Leisure.
Dwell Nation bought a controlling curiosity within the pageant in 2015 and has instructed minority house owners in Bonnaroo that it plans to train a buyout clause within the settlement to buy the remainder of the pageant, Billboard has discovered. The transaction will happen earlier than subsequent 12 months’s pageant and successfully ends Superfly’s position as pageant producer, though restricted position for Superfly on the festivsal is being thought-about. Going ahead, Bonnaroo can be produced by co-founder AC Leisure and C3 Presents, which Dwell Nation bought in 2014.
“We built this business on partnerships, and having a company like Live Nation come to the table and want to be part of that partnership in the way that they are here, and making the commitment to taking Bonnaroo to the next level, is an extremely gratifying, humbling validation of the hard work,” that has gone into the occasion because it was first launched in 2002, Farman instructed Billboard in a 2015 interview.
A 12 months after buying a controlling stake within the occasion, Dwell Nation purchased a majority share of pageant co-founder Ashley Capps Leisure. As a part of the 2015 settlement, Superfly and AC Leisure have been retained as operators, and numerous enhancements have been deliberate for the Nice Park Stage web site, often known as the Farm, which organizers bought in 2007.
“Through this partnership with Live Nation, we’re even more empowered to enhance the festival while preserving the integrity of the event that we’ve thoughtfully built over the past 14 years,” Farman stated in a launch after the sale.
Thought-about one of the necessary and well-known festivals in North America, Bonnaroo got here on the scene three years after Goldenvoice launched Coachella in Southern California in 1999, and the identical that C3 Presents held the primary Austin Metropolis Limits. Conceived as an annual gathering for jam bands, the pageant has expanded its lineup to incorporate a number of genres. After attendance dipped considerably in 2016, Dwell Nation booked U2 to play the pageant the next 12 months as the one pageant cease on their Joshua Tree tour. This previous 12 months (June 13-16), the pageant was headlined by Phish, Infantile Gambino, Publish Malone, Odesza, the Lumineers and extra.
The multi-day, multi-stage pageant has had as many as 80,000 each day attendees, however often hovers round 60,000.
Superfly had been employed to provide this 12 months’s Woodstock 50 occasion in Glen Watkins, New York however pulled out of the annniversay occasion over long-standing disagreements concerning the web site’s capability. In 2018, its Phoenix pageant Misplaced Lakes was canceled and in January, the corporate introduced it was not bringing again Denver’s Grandoozy pageant. Superfly additionally co-produces Outdoors Lands in San Francisco with One other Planet.
Billboard reached out to a consultant for Farman and Superfly for this story and didn’t obtain a response by press time. We are going to replace this story if that adjustments.