LIVE NATION BUYS INTO GOVERNORS BALL

Live Nation Entertainment has acquired a majority stake in Founders Entertainment, the creators and producers of the Governors Ball Music Festival in New York City. Michael Rapino’s portfolio will now include more than half of the top 25 festivals.

“In a short period of time, Governors Ball has become an influential music festival with fantastic talent and founders who are passionate about creating a unique festival experience for New Yorkers,” Rapino said after wrapping the deal with Founders Entertainment co-founders Jordan Wolowitz and Tom Russell. “I have no doubt that Jordan and Tom will continue to innovate on their vision for Governors Ball and build its brand and reach. We look forward to being their partner in that endeavor.”

Kanye West, The Killers and The Strokes will headline the sixth Governors Ball, set for 6/3-6/5 on Randall’s Island. The event draws 150k fans each year.

Through the terms of the deal, Founders Entertainment will continue to expand and diversify its charitable efforts, which include the Gov Ball Gives Back program, aiding local food shelters and community organizations in and around East Harlem, and Answer The Call, supporting the families of NYPD officers, firefighters, Port Authority Police and EMS personnel who have been killed in the line of duty.

In other governors' news, the governors of North Carolina and Mississippi—where draconian anti-LGBT bills are already prompting economic and cultural blowback—today admitted that signing those bills may have been a bit of an oopsie.