Live Nation is going to be a major stakeholder above and beyond what they are currently in the Bonnaroo Music & Arts Festival in Manchester, Tennessee.
Billboard is reporting that the major music company will be buying out Superfly and that while they may be on as advisors going forward, they are technically not going to produce the festival at all anymore.
Live Nation purchased a controlling interest in the festival in 2015 and has told minority owners in Bonnaroo that it plans to exercise a buyout clause in the agreement to purchase the rest of the festival, Billboard has learned. The transaction will take place before next year’s festival and effectively ends Superfly’s role as festival producer, although limited role for Superfly at the festival is being considered. Going forward, Bonnaroo will be produced by co-founder AC Entertainment and C3 Presents, which Live Nation purchased in 2014.
It’s a bit of a sad thing to see as a fan, because arguably the creative success of Bonnaroo was really based on the foundation and vision that Superfly set out with. But this also means the festival has a backing and a foundation going forward that will rival any other music festival anywhere in America.
Hopefully the festival maintains what cache it’s built up going into Bonnaroo 2020.
