Live Nation acquires a stake in V Festival

V Festival (Chelmsford) 2014

Saturday 16th to Sunday 17th August 2014
Hylands Park, Chelmsford, Essex, CM2 8WQ, England MAP
£189 with camping

Daily capacity: 90,000

Last updated: Tue 19th Aug 2014

Live Nation, the world's biggest concert promoter, has jointly acquired a major stake in the V Festival.

As part of a new investment agreement, Live Nation-Gaiety Holdings has become the majority shareholder in the twin festivals alongside founders Denis Desmond, Simon Moran and Bob Angus, who will all remain significant shareholders.

SJM also has a share in V Festival, and are one of the country's biggest concert promoters.

Denis Desmond is an Irish promoter and founder of MCD which owns Oxegen, is also the owner of Gaiety Investments, and has transferred his V-Festivals stake to Live Nation-Gaiety Holdings – the joint venture formed in 2004 to operate music businesses and live events such as Academy Music Group and DF Concerts. The other founders Moran and Angus have also sold part of their holdings to Live Nation-Gaiety

John Reid, President of Concerts at Live Nation Europe, told Music Week (here), “We are delighted to be able to help ensure V-Festival fans will continue to enjoy the best acts in great venues each summer.”

Live Nation's control of large UK festivals has rapidly grown with them already owning Creamfields, T in the Park, Download, Wireless, and Hard Rock Calling festivals.

They have entered into a joint venture with Angel Music Group to run Global Gathering, and they have a controlling stake in Festival Republic (formerly Mean Fiddler) who are involved in the production of Glastonbury Festival, as well as running Reading and Leeds Festivals, and Latitude.

Live Nation also owns and/or manages gig venues, rock arenas and music festival sites around the world and teamed up with Denis Desmond's Gaiety and formed a company called Hamsard buying the Mean Fiddler group for £38m, along with music venues including ten venues in The Academy Group, including Brixton Academy, and Wembley Arena in London. Last year Live Nation also won the contract to exclusively operate the Queen Elizabeth Olympic Park.

The twin V Festivals will take place at Hylands Park, Chelmsford, Essex and Weston Park, Staffordshire over the weekend of Saturday 16th & Sunday 17th August 2014.

The first line-up announcements for V Festival next year is likely to be announced sometime early in 2014, but as ever expect some of the world's top acts playing over the weekend.

Early bird weekend tickets are currently on sale, an adult ticket with camping is priced at £185, weekend tickets with no camping are priced at £160, a car park pass pass are priced at £20, with early bird luxury VIP camping also available.

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