Image for Stereosonic Bought By Live Nation?

Stereosonic Bought By Live Nation?

Written by Mike Hohnen on July 20, 2012

One of Australia’s fastest growing music festivals, Stereosonic will now operate under the umbrella company of international festival juggernaut Live Nation, as Stoney Roads discovered.

According to Stoneyroads, reports have been confirmed by numerous sources that Live Nation acquired the Australian event from TotemOnelove, though reports on how much the festival was bought for vary, with some saying $10mil, and others saying up to $40mil.

Update 7:07pm: A rep for Stereosonic has contacted Music Feeds stating the story posted on Stoneyroads.com “is 100% incorrect information”. We are waiting for an official statement. Stoneyroads has since removed the story.

Live Nation is becoming more and more of a threat to other companies. With one of the highest purchasing powers in the biz, they appear to be on the path of world domination, with the initial signs of a monopoly forming, and hey, it’s practically a duopoly now between them and A.E.G Live. While it doesn’t sound like such a big deal, it could be damaging for the local festival industry with companies such as Future simply unable to compete with the coffers now available to Stereo, who could very well book up all the good talent.

In other Stereo news, the official lineup for the next instalment has been announced, which you can check out over here.

Stereosonic 2012 Dates

Saturday, 24th November – Sydney
Sunday, 25th November – Perth
Saturday, 1st December – Melbourne
Saturday, 1st December – Adelaide
Sunday, 2nd December – Brisbane

Join Music Feeds on Facebook

More On Music Feeds

News

The Vaccines Frontman Is Frustrated People Can’t See How Good He Is At Writing Songs

The Vaccines lead-singer and songwriter Justin Young has gone on a pretty spectacular rant this week about his under-appreciated songwriting, his band’s popularity and Glastonbury headliners.

News

Someone Has Replaced The Snare In Metallica’s ‘Master Of Puppets’ With The Shittier One From ‘St. Anger’

Lars Ulrich’s snare sound on Metallica’s divisive St. Anger album has become a music industry punchline, mocked and memed en masse by even the most devout of Metallica fans, since the offensive album was first released in 2003.

News

Watch Primavera Sound Festival Live From The Comfort Of Your Couch This Weekend

Thanks to the internet you can basically pretend you’re in Barcelona at Primavera Sound this weekend, with many of the sets being streamed.

News

A$AP Ferg Has Made A Mini-Doco Of His Mental Australian Tour

Trap lord A$AP Ferg has released a short film of his recent trip to Australia showing just how HAM Aussie crowds went for the rapper.

News

Paul Mac, Art Vs. Science Support NSW Greens Bill To Stop Use Of Sniffer Dogs

NSW Greens member Jenny Leong has announced that she will introduce a bill to NSW parliament which, if passed, will stop police being able to use sniffer dogs without a warrant at festivals, in bars and King Cross and on public transport.

News

Fear Factory Dish On New Album ‘Genexus’

Fear Factory have released the tracklist and cover art for their forthcoming ninth studio album and given away a few hints on what to expect.

Around the web

This May Also Interest You