AEG Live Is Buying Bowery Presents To Corner The NYC Market

first_imgAfter Governors Ball sold themselves to Live Nation, another of the major independent groups in New York has gone corporate. According to sources reporting to Billboard, the beloved Bowery Presents promoters just finished a three-year negotiation and will be sold off to AEG Live.Bowery owns and operates a number of venues in the Northeast, including Bowery Ballroom, Mercury Lounge, Rough Trade and Music Hall of Williamsburg. They also put on shows at various venues, ranging from Brooklyn Bowl to Madison Square Garden. Furthermore, they also have expanded outside of NYC, putting on shows in Albany, Boston, Philadelphia, and Portland, ME. They also have a Bowery South division that works in Atlanta, Birmingham, and New Orleans.Bowery was founded in 2004, and is operated by both former Live Nation president Jim Glancy and co-founder John Moore. Their business model has focused on establishing relationships with smaller acts, as opposed to the aggressive bidding wars of the major event producers. Since they have built up so many strong relationships, it will be difficult to see them go.While the deal has not been officially announced, Billboard’s report says that it will be by the end of the month.last_img