Big Day Off

There's no question about what the big festival story was yesterday - no, not the lights going out in Glastonbury; it was Lollapalooza owner C3 Presents buying out Australia's Big Day Out festival, and promptly shutting it down for 2015.

This year's festival apparently lost AUD15million, which is why BDO's AJ Maddah was happy to sell his stake to C3 for a single dollar.

The plan, apparently, is to take 2015 off to "restructure" the event (presumably by trying to plug the massive hole down which the money flows) and return in 2016.

Actually, they don't say 2016 specifically, C3 just say "in future years".