Live Nation has taken a majority stake in the Isle Of Wight Festival.
As part of a new investment agreement via LN-Gaiety, Live Nation will work alongside promoter John Giddings and his Solo Music Agency, who will continue to lead the festival.
Since its rebirth in 2002, the festival has hosted acts such as The Rolling Stones, The Who, David Bowie, Muse, Foo Fighters, Bruce Springsteen, Paul McCartney, Pearl Jam, Kasabian, The Stone Roses, Red Hot Chili Peppers, 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," said Giddings. "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."
David Guetta, Run DMC, Arcade Fire and Rod Stewart will headline this year's festival from June 8-11. The event will feature more than 100 acts playing across eight stages and an expected audience of 42,000.
“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,” said Denis Desmond, chairman of Live Nation UK.
Live Nation has the largest platform of festivals in the world, with more than 86 festivals in its global portfolio such as Download, Lollapalooza, Reading & Leeds, Way Out West, Rock Werchter, Splendour Festival Australia, Bonnaroo, Austin City Limits and Governor's Ball.