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Billboard reports that Live Nation, the corporate behemoth behind some of your favorite tours and venues, is on the verge of acquiring Governors Ball. The festival, produced by Founders Entertainment, had remained independent since its 2011 inception. GovBall managed to make a mark on the Northeast event circuit despite fierce competition, with record ticket sales in 2015.

Jordan Wolowitz, a partner at Founders, suggested such a deal would not take place during previous talks with Billboard: “We’ve shown that, right now, we don’t need to [partner] — yet. Who knows what the future may bring.”

Whether or not the decision helps or hinders the festival’s future remains to be seen. Live Nation’s motivation likely stems from the annual location of GovBall, NYC’s Randall’s Island—an area that’s of great interest to Nation’s business rival, AEG.

We’ll update this story as more information arises.