LONDON (CelebrityAccess MediaWire) — Live Nation has acquired a stake in another Brit summer festival, the wildly popular T in the Park.
According to the Daily Record, the U.K. arm of the promoter has extended its relationship with Denis Desmond's Gaiety Investments to take over 67% of Dance Factory Concerts, which produces the festival. Live Nation already runs a network of venues around the island kingdom with Gaiety, such as the Academy Group.
Live Nation is no stranger to the UK festival scene and the promoter owns Download, Wireless and Hyde Park Calling festivals and they have a stake in Festival Republic, which produces the monster Glastonbury Festival along with the Reading and Leeds Festivals and Latitude.
"We are pleased to welcome Live Nation into DF Concerts." said Geoff Ellis, of DF Concerts and T in the Park "We look forward to continuing to work with an array of diverse artists and creating first class events such as T in the Park and Hydro Connect."
"I have been the main investor in this great business for many years. It is a natural progression for me to transfer this investment into my UK joint venture with Live Nation." noted Dennis Desmond.
This year's T in the Park is slated for July 11-13th in Belado, Kinross Shire and the strong lineup will include Rage Against the Machine, The Verve, Kate Nash, The Chemical Brothers and the Charlatans to name a few. – CelebrityAccess Staff Writers