AEG make bid for the Isle of Wight Festival

The world's second largest promoter, AEG, has made a bid to buy the Isle of Wight Festival, according to an article in yesterday's Telegraph newspaper,(here).

	Isle of Wight crowd

The article reveals that festival organiser John Giddings, who owns the event through his Solo group of companies, has received a number of offers to buy the event which have valued it at £12 million.

When eFestivals asked the Giddings if the festival was up for sale via twitter, the festival organiser replied, "@eFestivals is The Isle of Wight Festival up for sale? for that price? You must be joking!"

The newspaper reveals one of the main approaches has come from AEG, the American music giant controlled by Philip Anschutz, who have a controlling share in a dozen festivals including Scotland's Rock Ness festival, California's Coachella Valley Music and Arts Festival, and owns the O2 Arena in London, and the MEN Arena in Manchester. Kilimanjaro Live Limited is also a joint venture with AEG. The former Live Nation managing director Stuart Galbraith runs Kilimanjaro Live Ltd which owns stakes in various festivals including Sonisphere, Bloodstock, and Wakestock.

In 2008 AEG threatened the future of GuilFest by proposing to hold their own event on the same site in Guildford.

As another independent festival, the Isle Of Wight organiser revealed he is an obvious target for would-be buyers, and was flattered by the offer, but seemed unwilling to sell, adding, "At this moment in time, I'm focused on this year's festival and making it the best ever. It's very personal. I'd never say never, and I'm flattered that people have come to me."

Mr Giddings, also revealed why he decided to revive the event in 2002, "When the council asked everyone to restart it, no one was interested. I went down to have a look for a laugh and a good day out but when I got there I suddenly remembered I had been there with Jim Morrison (from The Doors). Walking over the hill in 1970 and seeing those 600,000 people, I had thought 'my god, this is what life is about'. It inspired me."

The organiser also feels festivals now are a better experience than they were in the 1970s, "Festivals are more enjoyable now. They are very safe environments for young people. I think that is why there are so many now. A festival nowadays is a right of passage for young people. It bonds people. You can talk to strangers because you have a shared experience."

He added, "I would never go through this again (reviving the Isle of Wight Festival), not in a million light years. If you had told me how hard it would be to do, I wouldn't have attempted it. But I don't regret it. It is the best thing I have ever done."

This year's event has already announced it's headliners. Friday night's headliner will be Tom Petty And The Heartbreakers. Saturday it's the turn of Pearl Jam, and Bruce Springsteen & The E Street Band will headline the Sunday, with Elbow, Biffy Clyro, Noel Gallagher, Example, The Darkness, Jessie J, Feeder, Professor Green, Wretch 32, Magnetic Man, Kelis, Miles Kane, Caro Emerald, Loick Essien, Clement Marfo & the Frontline, Noah & The Whale, The Vaccines, Madness, Crystal Castles, The Charlatans, Tinie Tempah, Band Of Skulls, Labrinth, Joan Armatrading, Groove Armada Present Red Light, Black Stone Cherry, Spector, Zulu Winter, Terry Reid, Brit Floyd, and more confirmed.

For the line-up details as available please click here. No other acts have been confirmed yet for 2012.

The festival has moved into the fallow Glastonbury Festival weekend for one year only. The eleventh Isle of Wight Festival takes place on Friday 22nd until Sunday 24th June 2012 at Seaclose Park, Newport, Isle of Wight.

Tickets are on sale priced at £190 for adult camping, and £95 for a child ticket (aged 7 to 12 years). The price of an adult ticket without camping will be £160 and £80 for children (aged 7 to 12 years). All children 6 years old and under on 22nd June 2012 can go for free but must still have a ticket. A campervan permit will be priced at £100 (all occupiers must also have a valid Camping ticket). Every person attending the festival must purchase a ticket. This includes babes in arms.

To buy tickets from Seetickets, click here.

To buy tickets from Gigantic, click here.

To buy tickets from Ticketline, click here.

To buy tickets from Ticketmaster click here.

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