Live Nation to Buy 50% stake in Insomniac

According to an article recently published by the Wall Street Journal Live Nation is set to buy a 50% stake in Insomniac Events.  The deal is reportedly worth around $50 million.  Insomniac has supposedly been in talks for purchase ever since SFX acquired ID&T earlier this year(link here).  Two  powerhouse EDM companies are set to take the North American stage this year.  With SFX continually adding new companies to it's roster it should be great for the fans to see these two mega groups go head to head.