Live Nation take over Creamfields

Ingenious Media Active Capital (Imac), the live events company based on the Cream electronic music brand, has sold its stake in Cream to Live Nation the world's biggest concert promoter. This will include the music festival Creamfields which this year takes place at Daresbury Estate, Halton, Cheshire over August Bank Holiday 2012.

The Cream brand also includes licensed shows overseas and club nights in the UK and Ibiza. Imac's shareholding in Cream was bought by Live Nation Entertainment for £13.93m. Patrick Bradley, CEO of Ingenious Ventures (a trading name of the manager to Imac), told the Independent newspaper (here), "We are extremely pleased to announce the sale of our holding in Cream to Live Nation, which has produced an excellent return for Imac."

Their control of large UK festivals has rapidly grown with Live Nation already owning London Live, T in the Park, Download, Wireless and Hard Rock Calling festivals. They have entered into a joint venture with Angel Music Group to run Global Gathering, and they have a controlling stake in Festival Republic (formerly Mean Fiddler) who are involved in the production of Glastonbury Festival, as well as running Reading and Leeds Festivals, and Latitude.

Live Nation also owns and/or manages gig venues, rock arenas and music festival sites around the world and teamed up with Denis Desmond's Gaiety and formed a company called Hamsard buying the Mean Fiddler group for £38m, along with music venues including ten venues in The Academy Group, including Brixton Academy in London. The partnership also won the contract to operate Wembley Arena for 15 years in 2006.

Creamfields have already confirmed deadmau5, Tiësto (exclusive), David Guetta, Avicii, Skrillex, Calvin Harris, Example, Axwell, Steve Angello (exclusive), Sebastian Ingrosso (exclusive), Paul van Dyk, Above & Beyond, Eric Prydz, Groove Armada (DJ Set), Richie Hawtin, Sub Focus (Live), Knife Party, Laidback Luke (exclusive), Steve Aoki, Eddie Halliwell, Ferry Corsten, Loco Dice (exclusive), Seth Troxler, Major Lazer, A-Trak, Sander van Doorn, John Digweed and Joris Voorn. For the line-up details, day and stage splits, as available please click here.

A 3 day camping ticket is now priced at £135, or a two day camping ticket is priced at £115, with hospitality options also available. Day tickets are priced at £65 for Saturday, or £60 for Sunday, and 2 day non-camping ticket is priced at £115.

To buy tickets, click here.

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