Nashville's Opry Entertainment acquires Charlotte-based music festival company
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The Aces perform at Lovin' Life Music Fest last year. Photo: Jeff Hahne/Getty Images
Opry Entertainment Group, the company that runs Nashville's famed Ryman Auditorium as well as the Grand Ole Opry, has acquired a majority interest in Charlotte-based live event group Southern Entertainment.
Why it matters: Opry Entertainment has been expanding its reach in recent years, building Blake Shelton-themed honky-tonks and doubling down on its investment in country music.
- The acquisition of Southern Entertainment gives the country powerhouse a foothold in the music festival business.
Zoom in: Southern Entertainment owns or promotes the Lovin' Life Music Fest in Charlotte, the Carolina Country Music Fest in Myrtle Beach, the Barefoot Country Music Fest New Jersey and the Greenville Country Music Fest in South Carolina. The company will launch the Field & Stream Outdoor Music Fest in Winnsboro, South Carolina later this year.
- According to a press release, Southern Entertainment co-founders Bob Durkin and Rob Pedlow will continue to lead the business.
State of play: Opry Entertainment runs two iconic venues in Nashville, the Ryman Auditorium and the Grand Ole Opry. The company is a division of Ryman Hospitality, which is located in Nashville.
- Over the past decade, Opry Entertainment has leveled up its live music game with the launch of Ole Red honky-tonks, which are a collaboration with Shelton, in several U.S. cities.
- The company also partnered with country star Luke Combs for a live music complex in downtown Nashville late last year.
What he's saying: "We view festivals as a tremendous opportunity to deepen our commitment to artists at all phases of their careers, and we especially look forward to joining forces with Southern Entertainment to bring even more of the up-and-coming artists who play our stages to their large-scale events," Opry Entertainment CEO Patrick Moore said in a press release.
What we're watching: Opry Entertainment is one of the firms that bid to operate the city-owned Ascend Amphitheater in Nashville.