Live Nation Acquires Country’s WE Fest, Other Festival Properties

– “WE Fest”

WE Fest, a country music festival that justconcluded this year’s run Aug.1-3 at Soo Pass Ranch near Detroit Lakes, Minn., has been sold to Live Nation. The deal was announced Aug. 6 during an earnings call by the festival’s previous owner.

 

Connecticut-based Townsquare Media CEO Bill Wilson said the sale, reportedly valued at $10 million,  was completed during the second quarter and includes other unnamed festival properties.

 

“After carefully evaluating our asset portfolio, we determined music festivals were not core to our local first strategy,” Wilson said, according to KFGO-TV.

  

WE Fest, which was launched in 1983, has grown into a major country festival, featuring headliners including Chris Stapleton, Keith Urban, and Brooks and Dunn in the event just concluded. Previous headliners have included Carrie Underwood, Eric Church, and Jason Aldean.

A spokeswoman for Live Nation confirmed the acquisition but offered no further information.