AEG Presents, which runs Coachella, has told fans not to expect too many changes at Firefly Festival after adding the major North American event to its portfolio.
AEG Presents has now acquired the remaining shares from Red Frog, which founded the Delaware-based event seven years ago.
AEG Presents first became involved with Firefly in 2014 when it became majority shareholder and began to help produce and promote the event. Since then, Firefly has presented big names such as Paul McCartney, who attracted 90,000 fans for his set in 2015.
Co-founder Stephanie Mezzano, who is one of several team members who will be joining AEG Presents, said: “We now have the opportunity to push Firefly in exciting ways and to work more closely with the best in the business.”
As well as Firefly and Coachella, AEG Presents also runs the Stagecoach festivals and New York’s Panorama, which will be held next weekend on Randall’s Island.
Melissa Ormond, chief operating officer of festivals at AEG Presents, said: “Combined with the full commitment of AEG Presents’ resources, including an unrivalled production team committed exclusively to festivals, there is no doubt that the best is yet to come for the Firefly Music Festival.”