Bonnaroo gets new partner in Live Nation

Bonnaroo Music & Arts Festival is the latest independent music event to consolidate, partnering with big money.

The four-day festival on 700 acres in rural Manchester, Tenn. is now majority owned by Live Nation, the country’s largest concert promoter and ticket seller. (Live Nation, a $6.87 billion publicly-traded company, also owns Ticket Master.)

Read an exclusive Billboard.com interview with Ashley Capps of AC Entertainment and Rick Farman of Superfly about their decision here.

While festival founders Knoxville’s own AC Entertainment and Superfly will maintain day-to-day operations, the news was unwelcome to some.

Time will tell …