Mega-Promoter AEG To Acquire Indie Bowery Presents
When big promoters like AEG and Live Nation acquire scrappy independents, its hard to see it as a win for any musicians beyond the top tier players. But the consolidation is continuing with AEGs acquisition of aggressive indie competitors Bowery Presents.
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Global promoter AEG is in the final stages of talks to acquire New York-based independent promoter Bowery Presents, according to multiple reports. Bowery partners include former Live Nation New York president Jim Glancy, who joined Bowery in 2004; and John Moore, co-founder of Bowery with Michael Swier, who is no longer with the company. Financial terms of the deal were not disclosed.
Originally founded in 1993, Bowery Presents has made a name for itself as an independent promoter, booking key New York City venues such as The Mercury Lounge, The Bowery Ballroom, The Music Hall of Williamsburg and Terminal 5, and playing a significant role for developing artists in the market.
The company has also expanded aggressively in recent years, developing a footprint in other markets such as Philadelphia, Boston, Albany, and Portland, Maine, as well as southern states such as Alabama and Louisiana.
News of the AEG deal, if completed. comes on the heels of Live Nation's acquisition of another one of New York's key independent promoters, Founders Entertainment, which took place earlier this month.
According to Billboard, the AEG/Bowery Presents deal may be officially announced as soon as next week, however representatives from both companies declined to comment.
via Celebrity Access
