The industry giant has acquired a majority stake in the concert and festival promoter to expand their offerings in the Southeastern United States.

Live Nation announced today that it has acquired a majority stake in premier promoter Red Mountain Entertainment that handles concerts, festivals, and venues in the Southeast market.

"From day one, our goal at Red Mountain has always been to bring fans' favorite artists to town. As we took on bigger venues, talent, and events across the Southeast, we always stayed true to that mission, which is why we were excited about the opportunity to work with Live Nation," said Gary Weinberger, President, Red Mountain Entertainment in a release. "As part of Live Nation, with my partners Jay Wilson, John Ruffino and our team, we look forward to bringing countless more shows and festivals to fans across the Southeast."

Red Mountain will continue to oversee all operations for its diverse suite of events and projects, which range from concert promotions, to festival promotion and production, as well as venue consulting. The core concert promotions business handles show bookings in venues ranging from amphitheaters and arenas to clubs and theaters, including exclusive venues The Wharf Amphitheater, Tuscaloosa Amphitheater, Brandon Amphitheater, and Iron City.

Red Mountain also handles production for a number of festivals throughout the Southeast including Sloss Music & Arts Festival, which the company co-owns with AC Entertainment and VMI, and has exclusive booking partnerships with Beale Street Music Festival in Memphis and Wildflower! Arts & Music Festival in Richardson, TX. In addition, Red Mountain produces craft beer festivals in the Southeast and owns the Oak Mountain State Fair in Pelham, Alabama.

"I have had the great privilege to have known Gary, Jay and John for many years now, and they are just terrific people who have built a tremendous concert business," said Bob Roux, President, U.S. Concerts, Live Nation in a release. "Given their entrepreneurial approach to business, their personal relationships and their tireless work ethic, they will continue to grow and accomplish even more as we work along-side one another at Live Nation."

Red Mountain's amphitheater business has also expanded into a venue consulting practice, advising clients on venue planning and design, sponsorship development, premium seating packaging, marketing, venue management and operations, talent buying, concessions and merchandise sales.

The entire Red Mountain team that has promoted shows for The Rolling Stones, Pink Floyd, Jimmy Buffett, Kenny Chesney, Eric Church, Fall Out Boy, G-Eazy, Phish, Leon Bridges, Rod Stewart, Kings of Leon, John Mayer, Dave Matthews Band, Bob Dylan, Def Leppard, Imagine Dragons, Luke Bryan, Twenty One Pilots, and Chris Stapleton, will continue to work for the company and operate from their home base of Birmingham, Alabama as they become part of Live Nation.