Remember a few days ago when we put this up: No. This is no bullshit. We know what you’re thinking and that it can’t be true, but it is. Insomniac has only sold half of the company over to them, for $50 million, according to the Wall Street Journal. Live Nation has brought other companies, Cream last year, and now, it slowly seems to be that they’re gaining a monopolistic grip on any EDM company. But what are your thoughts? Are you happy with this, saddened, angered? Do you think Insomniac sold out or benefited themselves? Tell us what you think? — Remember.

Well, I guess now. We got the real scoop. Pasquale Rotella, CEO and founder of Insomniac Events, commented on his Twitter account about the allegations toward Live Nation and said, “I’d only do a deal if it benefited the headliners. That’s just how it is…” the CEO tweeted, “If partnering with someone made Insomniac better I would do it. That’s the only way.” So, now we know: It’s not official.

Written by: Dominic Laudadio