Insomniac: We're Still Indie

Insomniac denies a report by the “Wall Street Journal” that Live Nation is on the verge of buying a 50 percent stake in the company.

Sources told the WSJ that Live Nation was about to plunk down $50 milion for its stake in the electronic dance music event promotion company. However, a representative from Insomniac has told the media that the report is premature.

Photo: John Davisson

Electric Daisy Carnival, Tinker Field, Orlando, Fla.

“Reports stating that Insomniac has finalized a deal with Live Nation are false. While we have talked to them, and other interested parties, no deal has been signed at this time,” the representative says.

Insomniac has been in talks with Live Nation and other companies but no deal has been struck, according to the representative.

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 in 2011. 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.