LONDON (CelebrityAccess) — Live Nation announced that have acquired a controlling interest in John Giddings' iconic Isle of Wight festival.
As part of a new investment agreement, Live Nation via LN-Gaiety has become the majority shareholder in the Isle of Wight Festival and will work alongside John Giddings and Solo Music Agency, who will continue to lead the festival.
The Isle of Wight Festival, held annually for the past 45 years on the British Isle of Wight is regarded as the first major festival in the highly competitive UK market. Since 2002, the Isle of Wight Festival stages have hosted The Rolling Stones, The Who, David Bowie, Muse, Foo Fighters, Bruce Springsteen, Paul McCartney, Pearl Jam, Kasabian, Amy Winehouse, Kings of Leon, Jay-Z, The Strokes, Coldplay, The Sex Pistols, The Police, Blondie and Biffy Clyro.
Headliners for the 2017 edition of the festival of music include David Guetta, Run DMC, Arcade Fire and Rod Stewart.
The addition of Isle of Wight to their festival portfolio increases Live Nation's footprint in UK festival market, positioning the event alongside of other festival brands under the company's aegis such as Download and the Reading & Leeds festivals.
“After 15 hugely successful and glorious years, we have been looking at how we can elevate and take the Isle of Wight Festival to the next level. This partnership with Live Nation will give us the ability to access the company’s scale and talent pool, bringing more acts and a better experience to the UK,” said John Giddings, Founder of the Isle of Wight Festival. – Staff Writers