WE Fest is a country music and camping festival founded in 1983 and based in Detroit Lakes, MN. Townsquare pays $21.5 million in cash and 100,000 Townsquare Media Class A common shares for the festival located at the Soo Pass Ranch, a 500-acre lakefront facility comprised of a natural amphitheater and more than 9,000 campsites. Townsquare Executive VP for Live Events Dhruv Prasad said, ?The addition of WE Fest to our portfolio of music festivals positions Townsquare Media as one of the leading country music festival owners in the United States. We look forward to continuing to grow the audience at WE Fest, along with the operating leadership team of the festival, including Bob Bliss, John Gourley, and Mark Schultz, who will be joining Townsquare.?