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Live Nation to buy half of Insomniac Events

By | Published on Friday 3 May 2013

Insomniac Events

The buy up of the EDM community by corporate America continues with word in the Wall Street Journal that – as has been rumoured for a while – Live Nation will take a 50% stake in dance music promoter Insomniac Events, which is possibly best known for the Electric Daisy Carnival festival. The WSJ values the deal at around $50 million.

It’s not Live Nation’s first dance music acquisition, of course, since EDM went big in the States, it having previously bought UK-based Cream and the US firm Hard Events. Adding credence to the Insomniac deal story, Billboard notes that the EDM firm’s boss Pasquale Rotella has been spotted with Live Nation chief Michael Rapino at various events, and that Hard Events is set to have a stage of this year’s Electric Daisy event.

Live Nation faces competition in the EDM buy-up domain from the new version of SFX, the Robert Sillerman-led entertainment company. Sillerman’s original live music business eventually morphed into the Live Nation company of today.