Global entertainment company Live Nation have purchased the majority share in Australia's Secret Sounds group, the organisers behind uber-successful festivals Splendour In The Grass and Falls Festival.
The 51% share in Secret Sounds will see Live Nation add the two massive festivals to their already mammoth festival portfolio, including New York's Governors Ball, Reading and Leeds, Bonnaroo and Electric Daisy Carnival.
CEO and President of Live Nation, Michael Rapino, says, "Splendour in the Grass and Falls are the two most iconic festivals in Australia.
"Jess [Ducrou] and Paul [Piticco] have created events that attract the biggest artists in the world but still feel uniquely Australian. We look forward to partnering with them to find new ways to grow our live event footprint across Australia."
Ducrou and Piticco, Secret Sounds' co-directors, say, "We started Secret Sounds with the sole mission of introducing Australians to the best artists, events and music possible, and Live Nation is the perfect partner to help us take this goal to the next level. With their support we can continue to curate the line-ups that fans love, while also experimenting with new exciting ways for fans to experience live music."
The announcement comes just a couple of months after Secret Sounds unveiled a major restructuring of the company, bringing Secret Sounds Touring, Secret Service Artist Management, Village Sounds, Dew Process, Create/Control and Dew Publishing all under one roof.
The Dew Process and Create Control record labels will be excluded from this partnership.
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