Live Nation is in talks to acquire 50% (not yet official, just reported) of Insomniac Events, possibly giving a large stake in one of the biggest promoters in electronic music. Over the past few months a bidding war had ensued between Live Nation, SFX Entertainment and a handful of other contenders. It appears Live Nation is coming out on top and is on the verge of closing a deal that is sure to shape dance music in America for quite some time. Sources close to the matter have reported that Live Nation will be getting a half of Insomniac Events for a cool $50 million.
As of right now it seems that there will be no restructuring at Insomniac but it is clear that Pasquale could use the money. Also, with Live Nation already owning Hard Events, this explains the cross-promotion of the Hard stage at EDC Vegas. This type of cross-promotion may be something we see more as a clear duopoly is forming with SFX Entertainment and Live Nation now controlling most of the electronic music market.
Hope Lansing (Co-Founder/Co-Owner of Uproar Events)