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AEG Has Acquired 50% Of Bowery Presents

The entertainment company has made a crucial move against its primary competitor, Live Nation, in New York City.

January 30, 2017
AEG Has Acquired 50% Of Bowery Presents Neilson Barnard / Getty Images

AEG Live has finalized a deal to purchase 50 percent of Bowery Presents, the New York-based concert promotion company, The New York Times reports. In a press release along with the announcement, AEG described their company as the new No. 1 concert promoter in New York City, according to Billboard.

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The partnership gives AEG, which is the second-largest promotion company in the world behind Live Nation, partial stakes in multiple New York City venues, including Terminal 5, Music Hall of Williamsburg, Rough Trade NYC, and Brooklyn Steel, which scheduled to open this spring.

Bowery Presents now joins AEG's extensive holdings, joining Goldenvoice, who promote Coachella and Panorama. The company owns arenas, stadiums, festivals, and sports teams around the world. AEG chairman Jay Marciano told The New York Times that Bowery Presents will book AEG's New York City venues, including PlayStation Theater in Times Square. AEG is owned by Philip Anschutz, who donated $1,000,000 to Republican candidates in the 2016 election cycle and has reportedly donated to anti-LGBTQ groups as recently as 2015.

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AEG Has Acquired 50% Of Bowery Presents