Report: LN Taking
Half Of Insomniac

Live Nation is on the verge of buying 50 percent of Insomniac, the nation’s leading EDM promoter, sources told the Wall Street Journal.

The price tag is $50 million, sources told the paper, which would jibe with the alleged offer from Robert Sillerman, whose SFX apparently offered upward of $100 million to buy Pasquale Rotella’s company outright.

Insomniac continually builds its fleet of events, but most would argue its anchored by the Electric Daisy Carnival, a massive EDM festival that moved from Los Angeles to Las Vegas. It can also be found in Colorado, Florida, New York, New Jersey, Texas and Puerto Rico.

Live Nation bought EDM promoter Hard Events last year.