UPDATE: 3pm, March 6, 2019

The ever-jovial Michael Gudinski has released a statement regarding reports he is to sell his Mushroom Group to LA-based AEG:

“Be assured that rumours that I’m selling Mushroom Group are absolutely incorrect,” he said. “And the fact that anyone thinks I would sell Mushroom Group has me thinking I should book the rumourmongers for a Frontier Comedy tour because it’s so laughable.”

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While it’s all attributed ‘industry insiders’ and ‘sources’ right now, the sale of one Australia’s biggest promoter giants is apparently on the cards. It’s just not clear which.

US industry trade publication Hits Daily Double – which is more often right than it is wrong – has reason to believe Mushroom Group is up for sale, with global giant AEG looking to make the purchase.

The publication credits “insiders close to the deal” who say the L.A.-based Anschutz Entertainment Group (AEG) is offering US$75 million for The Mushroom Group.

This would include its around 20 subsidiary companies, including its promoter arm Frontier Touring, indie labels I OH YOU and Liberation Records, and its booking agencies The Harbour Agency and Premier Artists.