Townsquare Media Adds WE Fest To Growing Portfolio
Media, entertainment and digital marketing company Townsquare Media has announced the acquisition of the country music and camping festival WE Fest. Founded in 1983 and based in Detroit Lakes, MN, WE Fest has grown into a significant annual event. Townsquare is the third largest broadcast radio group in the U.S. with 311 stations and major online music properties including HypeMachine, popcrush.com., justjared.com and tasteofcountry.com.
We Fest joins a number of other events produced and promoted by Townsquare, including Country Jam in Grand Junction, CO; the Taste of Country Music Festival at Hunter Mountain; Headwaters Country Jam in Three Forks, MT; WYRK’s Taste of Country in Buffalo, NY; and WGNA’s CountryFest in Albany, NY. The company also operates the country music news and entertainment websites tasteofcountry.com and theBoot.com.
Located at the Soo Pass Ranch, a 500 acre lakefront facility comprised of a natural amphitheater and more than 9,000 campsites, WE Fest attracted more than 45,000 fans per day in 2014 with a lineup that included Jason Aldean, Brad Paisley, Zac Brown Band, Florida Georgia Line, Kenny Chesney, Carrie Underwood and Eric Church.
According to Townsquare Media, We Fest was acquired for approximately $21.5 million in cash and another $1.2 million in common stock.
We Fest 2015 is slated to take place August 6th – 8th with a lineup featuring Blake Shelton, Miranda Lambert, Rascal Flatts, Dierks Bentley, Hank Williams Jr., and Jake Owen. – Celebrity Access
