Live Nation has acquired a major stake in Isle Of Wight, one of the UK’s most famous major festivals.
Its founder John Giddings and his Solo Music Agency will remain at the helm.
“As part of a new investment agreement, Live Nation via LN-Gaiety has become the majority shareholder in the Isle of Wight Festival,“ the announcement reads.
Isle of Wight Festival was founded in 1968 and went on for three years, before taking a 31-year hiatus.
Giddings, who attended the 1970 edition of the festival, revived it in 2002.
Acts who played the festival since then include The Rolling Stones, The Who, David Bowie, Muse, Foo Fighters, Bruce Springsteen, Paul McCartney, Pearl Jam, Kasabian, Amy Winehouse, Kings of Leon, Jay Z, The Strokes, Coldplay, The Sex Pistols, The Police, Blondie and Biffy Clyro.
“After 15 hugely successful and glorious years, we have been looking at how we can elevate and take the Isle of Wight Festival to the next level. This partnership with Live Nation will give us the ability to access the company’s scale and talent pool, bringing more acts and a better experience to the UK,” Giddings said.
David Guetta, Run DMC, Arcade Fire and Rod Stewart are among more than 100 acts to take the stage at this year’s edition.
Some 42,000 people are expected to flock to the island, June 8-11.
Denis Desmond, Chairman of Live Nation UK, said, “John Giddings and the Solo team have developed the Isle of Wight Festival to be one of the most iconic festival brands in the world and it’s fantastic to be able to add it to our growing and diverse portfolio of festivals.”
Watch Pollstar’s interview with John Giddings, in which he also shares some anecdotes about the Isle of Wight Festival.