The US entertainment giant, which runs Ticketmaster in the US and is part of the vast Clear Channel mass media company, has scooped up Cream Holdings Ltd, the company under which it runs Creamfields and other Cream branded events.
Owner James Barton will now become president of Live Nation Electronic Music.
“I am delighted to be a part of the Live Nation team and know that the company is the perfect partner,” said Barton.
“Our strategies are aligned and through the combined efforts of the Cream and Live Nation teams, we will substantially grow our electronic music offerings across the globe.”
The new division of Live Nation intends to launch new festivals in North America, Europe and Southeast Asia.
Creamfields festivals around the world already pull in 350,000 people a year, but it's a drop in the ocean for Live Nation's 22,000 annual shows for 2,300 artists across the globe.
