LAS VEGAS (KTNV) — The Life Is Beautiful festival is now 100% owned by Rolling Stone.
In 2022, Rolling Stone acquired a majority stake in the festival. On Wednesday, the company announced they had acquired the remaining interests in the festival from the Tony Hsieh Estate.
"We remain proud stewards of Life Is Beautiful and Tony Hsieh's legacy," Rolling CEO Gun Wenner said. "This deal cements a solid path forward for continued success and growth for the brand. I'm grateful that I had the opportunity personally work with Tony and be inspired by his unique vision. Our goal is to continue to build and deepen our connection to music fans around the world by staying true to the artistic and cultural roots that make Life Is Beautiful so unique."
Wenner previously told me that his relationship with Hsieh led to the original discussions around purchasing a stake in the festival.
"I cold-called Tony and I was just struck with what a unique kind of brilliant guy he was and that was part of the process of coming across Life Is Beautiful. Getting here was my conversations with Tony and hearing his ideas about the world and mission about this festival and what it means to the community and his vision for things. I think on some level, we just kind of wanted to do something together," Wenner said. "From the moment that we started looking at [Life Is Beautiful] and the moment I came to see it, there was a real kind of shared spirit there."
Terms of the deal were not disclosed, as of Wednesday morning.
WATCH: Channel 13 speaks to Rolling Stone CEO Gus Wenner about future of Life Is Beautiful
