Temecula Music Fest Changes Hands

The Temecula Music Fest is under new ownership.

The Vault Concerts bought the festival from Full Value Entertainment last Wednesday.

The festival showcased local talent for six consecutive years.

The former owner, Bill Gould, the head of Full Value, bowed out of organizing musical events after doing it for about 10 years.

The new owner will run the fest much the same as it was before, said Ivan McClain, the head of the Vault Concerts.

“The Temecula Music Fest will still remain as the valleys number one music fest featuring the best bands in the Temecula Valley,” he said in a written announcement.

Gould is giving up the fest to work on his real estate business and making music with his own band, Keenwild.

"When we started the Temecula Music Fest in 2005, we wanted it to continue on for decades to come,” he said in a written announcement. “The Vault will provide an opportunity for the (fest) to take on a new life while we focus on our other business and music ventures.”

Gould and his wife, Jeney Kingsbury, the long-time production manager and current member of the Temecula Arts Council, plan to stay involved with the fest by sponsoring it.

"It was exciting to grow the festival from a half day event to a multi-day festival, now its time to pass it on," Kingsbury said.

This year, the fest will be held at the Vault, McClain said.