Live Nation has acquired a stake in the V Festivals company.

Live Nation-Gaiety Holdings (LN-Gaiety), the UK music promotion joint venture between Live Nation Entertainment (NYSE:LYV) and Desmond’s Gaiety Investments, has invested in the annual music events.

As part of a new investment agreement, LN-Gaiety has become the majority shareholder in the V-Festivals alongside founders Denis Desmond, Simon Moran and Bob Angus, who will all remain significant shareholders.

Under the agreement, Desmond, owner of Gaiety Investments, has transferred his V-Festivals ...