Live Nation, the globe’s biggest live events promoter, who was previously rumored to be acquiring majority stake in C3 presents has stepped up and made this rumor a reality.

According to Brooklyn Vegan, Live Nation, the company that already books for Irving Plaza, Gramercy Theatre and other popular NYC hotspots, has acquired controlling stake in the independent concert company, C3 Presents, who are responsible for huge fetivals like Lollapalooza, Austin City Limits, and other big festivals around the world.

In a press statement to Billboard, C3 said,

“We are excited to join Live Nation and become a part of their global family, while continuing to grow our festivals within a culture of entrepreneurship that will empower our team to keep improving these festivals and the fan experience.”

Live Nation has been extremely busy making huge moves such as these. In October after a long fight with Nederlander Concert Co., Live Nation won control of the iconic music venue, The Greek Theatre. The Nederlander Concert Co. had been operating The Greek Theatre for the previous 39 years.

mxdwn first brought you this story in October after two knowledgeable sources confirmed to the New York Times that the deal was in the works. Not only does C3 represent Lollapalooza and its festivals which include Chicago, Chile, Brazil and Argentina, but they also represent some North American corporate clients including 35 Caesars Entertainment venues nationwide, the Cosmopolitan in Las Vegas and Casino Rama in Ontario, Canada.