We knew there was some reason why Insomniac’s Beyond Wonderland festival was held at the Sam Manuel Amphitheater instead of the National Orange Show.
The Wallstreet Journal recently reported that Live Nation will be finalizing the deal with Insomniac to own 50% of Insomniac events. It looks like there were a few companies bidding for the change to get in on this sweet merger, but Live Nation won out. Insomniac was founded 20 years ago by Pasquale Rotella and is now reported to be valued somewhere between 70 – 100 million. From what we’re seeing Live Nation was able to grab 50% for 50 million. This is just another company to add to the list for Live Nation, which currently consists of Hard Summer and Cream Holdings (British promoter) and has a 25 year contract with Sam Manuel Amphitheater to hold EDM events.
UPDATE: Pasquale Rotella states no deal has been made yet!
I haven’t signed a deal with anyone.
I’ve talked to interested parties but nothing is done. If anything changes headliners will know first. I’d only do a deal if it benefited the headliners. That’s just how it is.
If partnering with someone made Insomniac better I would do it. That’s the only way. I’ll keep you all informed.