After the news that Live Nation acquired majority stake in Founders Entertainment, AEG Live, Live Nation’s biggest competition, is close to acquiring New York independent promotion team Bowery Presents. It has been three years of continuous talks between AEG and Bowery presents and finally, the global giant has finally made it to the final steps of sealing the deal with the New York promotion staple. For 23 years, Bowery Presents has been putting on shows throughout New York City at venues like Bowery Ballroom, Terminal 5 and Music Hall of Williamsburg just to name of few. They also have hosted larger events at the Barclays Center, Madison Square Garden and Brooklyn Bowl.
The possible acquisition of Bowery Presents shows the intentions of AEG wanting to become a coast-to-coast juggernaut in their attempt to always one up Live Nation. Another example of there one-upmanship was there collaborative achievement with west coast promotion Goldenvoice to bring New York their own version of Coachella in Panorama Music & Technology.
The acquisition wars between Live Nation and AEG Live are really starting to heat up and there are only more battles to come.
Source: Billboard
