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ENTERTAINMENT

Live Nation acquires controlling interest in AC Entertainment

Wayne Bledsoe
Knoxville News Sentinel

Live Nation Entertainment, the largest concert promotion company in the United States, has bought controlling interest in Knoxville's AC Entertainment. Founded in 1991, AC Entertainment promotes the majority of the large concerts that are presented in Knoxville and manages the Tennessee and Bijou theaters.

"We've co-promoted events with Live Nation for years, but when Live Nation purchased interest in Bonnaroo, we really started getting to know their team ... It felt like a good fit," Capps said when contacted on Monday.

Live Nation bought controlling interest in Bonnaroo in 2014.

Capps began promoting music shows in Knoxville in the 1980s and founded AC Entertainment after closing the Old City music venue Ella Guru's. The company quickly grew into one of the most respected concert promotion businesses in the Southeast and, in addition to managing the Tennessee and Bijou theaters in Knoxville, the company handles booking for venues in Nashville, Asheville, N.C., Memphis, Chattanooga, Charleston, S.C., and Columbia, S.C. The company presents more than 1,000 shows per year.

The company co-founded The Bonnaroo Music & Arts Festival with Superfly Productions in 2002. The festival is one of the most successful concert festivals in the world. AC Entertainment also books the Sloss Music & Arts Festival in Birmingham, Ala., the Forecastle Festival in Louisville, Ky., and several other festivals around the country. The company also handles the Big Ears Festival, which takes place in Knoxville.

Founded in 2005 as a spin off company from Clear Channel Communications, Live Nation has become the largest concert promotion company in the nation and operates more than 130 music venues around the world. The company merged with Ticketmaster in 2010 to form Live Nation Entertainment.

"Initially, I don't anticipate a lot of change," said Capps. "We'll operate as AC Entertainment and they want us to continue to be AC Entertainment. As things progress, we'll explore new opportunities, but it's very hard right now to predict what those will be. We'll be strategically aligned with the biggest music promotion company in the world and their expertise and experience will bring to bear on everything we do."

Capps said he expected no changes in staff at the company due to the deal with Live Nation. AC Entertainment  has 40 full-time employees in Knoxville, including staff employed at the Tennessee Theatre, the Bijou Theatre, and the Mill & Mine venues. The company has nine full-time employees at its Nashville office, seven full-time employees in its Chattanooga office, where the company manages the Tivoli Theatre, and Memorial Auditorium.

In a news release, Bob Roux, Live Nation's co-president of North American concerts, said:

“Ashley and his amazing team have created an impressive roster of live events and developed a strong network and regional expertise that will complement Live Nation’s festival and concert portfolio. This new working relationship with AC will offer exciting synergies that will enable us to continue to grow both of our businesses together in the coming years."

Capps said the changes to Bonnaroo since Live Nation acquired controlling interest in the festival have mostly been behind the scenes or in the infrastructure of the site, including running water and real bathrooms and real showers, which have made the experience better for festival goers.

On a personal level, Capps said he looked forward to spending the next five years exploring new opportunities for AC Entertainment.

"Of course, we didn’t do this deal to continue 'business as usual' but the plan is smart growth from the core business platforms that we have in place,” Capps said in the release.  “We’ll be able to do more - to be more effective - with the access to the extraordinary relationships, expertise, and resources that Live Nation brings to the table."

Ashley Capps, Knoxville Native and co-founder of Bonnaroo Music and Arts Festival, poses for a photo while listening to The Pinklets perform at Bonnaroo Music and Arts Festival on Sunday, June 12, 2016, in Manchester, Tenn.  (CAITIE MCMEKIN/NEWS SENTINEL)