Pasquale Rotella’s Insomniac Events has officially partnered with Live Nation.

Although the acquisition was already rumoured in the past few months the partnership is now official with Live Nation having purchased a large stake of the Insomniac empire.

Among a statement posted on the Insomniac Events site comes the reassurance of “complete creative control of all events” as well as ensuring fans tickets prices will “continue to be fair and reasonable”

Their partnership follows the recent steps forward by ‘EDM’ promoter SFX Entertainment who bought up a stake of world renowned dance festival Tomorrowland and Beatport for a cool $50 million each.

The news comes as a positive side to the current legal action against Insomniac Events owner Pasquale Rotella who faces up to 13 years in prison for bribery, embezzlement, conspiracy and conflict of interests.

Insomniac Events runs the ever-popular Electric Daisy Carnival that has more recently expanded to Chicago, where it copped flack from local media as well as internationally to London in a partnership with Cream.

Interestingly enough, Australia remains untouched for any investments from any international promoters.