Live Nation Acquisition Of Insomniac Events Is False
As the web whirls with rumors of Live Nation taking a 50% stake in Pasquale Rotella’s event conglomerate, Insomniac, reps claim otherwise. The Wall Street Journal first reported that the cut for half ownership of the Los Angeles based events company is in the $50 million ballpark.
“Reports stating that Insomniac has finalized a deal with Live Nation are false,” Insomniac’s VP of Communications & Public Affairs, Jennifer Forkish tells VIBE. “While we have talked to them, and other interested parties, no deal has been signed at this time.”