THE CHICAGO SUN TIMES excerpt:
The former leader of Jane's Addiction, Farrell launched Lollapalooza in 1991 as a touring day-long alternative rock festival. Reconfigured in 2004 as a two-day event, the tour was canceled several weeks before the first show because of poor ticket sales in nearly every market except Chicago.
Checked out 25 cities
Capital Sports purchased a share of the Lollapalooza name last year. Farrell, who is billed as a "creative consultant," wouldn't say how much of a stake he still owns, though he noted, "I've got enough of a share that I can tell anybody to shut up."
Jones said that Capital Sports looked at 25 cities before choosing Chicago. He added that his company conducted "three years of brand analysis and marketing surveys" to determine that "not only does this brand still have merit, but Lollapalooza is the most recognized name in music today."
The company has remodeled the concert after the Coachella and Bonnaroo festivals and the Austin City Limits Festival, which Capital Sports produces.
The promoters hope to make Lollapalooza an annual event in Grant Park and "the premier music festival in the world," Jones said.
Farrell said he is not disappointed that Lollapalooza is now a single-city concert instead of a tour. "Sure, you'd like to date nine women, but if you can meet a great one, you'd marry her," he said.
Im suprised no one has posted about this, but all of a sudden, out of the blue, Chicago has a massive annual music festival downtown. Lollapalooza is planned to attract 50,000 ticket holders over the course of two days, as well as thousands of other 'bum fans' that will come to listen in on the show.
This is just awesome news, and not just for alt rock fans as myself. This is greatly gonna boost the image of the city, especially in terms of pop culture. Lollapalooza is the largest alt rock show there is, and a lot of media outlets, MTV included, are gonna focus on the city while it occurs. Seeing how it will be hosted in the South Loop area (Hutchinson Field in Grant Park), its really gonna liven up that area, and definatly make for hordes of people walking along Michigan Avenue to Millenium Park, and to Rivernorth for nightlife after the concert. The House of Blues and many other venues have agreed to house afterhours parties and shows from bands in Lollapalooza as well as others. Lollapalooza will also feature many family activities and other attractions for people who visit the park, although
Summerfest in Milwaukee is gonna have one hell of a run for its money
the full article: