More than 200,000 people attended Lollapalooza 2014 in Chicago. (Photo by Nick Simonite)

Months after rumors of the deal first leaked, Live Nation has announced the completion of a deal to acquire a controlling stake in Austin-based C3 Presents, the promoter behind Lollapalooza and the Austin City Limits festivals.

C3, fronted by the “three Charlies” — Charles Attal, Charlie Jones and Charlie Walker — not only promotes several international editions of its...

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