Word on the street is that Live Nation is gearing up to buy a controlling stake in C3 Presents.

From Billboard.com…

Live Nation is in negotiations to purchase 51 percent of the concerts and festival business of Austin-based independent promoter C3 Presents for about $125 million, Billboard has learned. Both C3 and Live Nation declined to comment for this story.

This leaves AEG Live in the mix but quickly disadvantaged if a deal like this goes through; we’ll have any updates as they become available.