Live Entertainment Leader Inks 15-Year Deal to Run and Promote Magnificently Restored and Iconic Venue
LOS ANGELES, Jan. 25 /PRNewswire-FirstCall/ — Live Nation (NYSE: LYV), a leading live content and distribution company, today announced a 15-year agreement to manage and promote the world famous Wembley Arena in London. Live Nation subsidiary, Hamsard, brokered the deal with developer Wembley London Limited, a subsidiary of Quintain Estates and Development PLC, and coincides with the Arena’s extensive $60 million refurbishment, restoring it to the pinnacle of venues. Wembley Arena will re-open in April 2006.
“Wembley Arena is one of the great icons of live entertainment,” said Michael Rapino, CEO of Live Nation. “We’re thrilled to add Wembley Arena to our roster of globally operated venues and know that we can continue to keep the brand of this magnificently restored venue in the highest light.”
Wembley Arena plays host to more than 200 international concerts and events each year many of which are promoted by Live Nation.
About Live Nation
Live Nation is a leading live content and distribution company focused on creating superior experiences for artists, performers, corporations and fans. Live Nation owns, operates or has booking rights for 150 venues worldwide and promoted or produced over 20,000 events in 2005. Live Nation is headquartered in Los Angeles, California. Live Nation is listed on the New York Stock Exchange, trading under the symbol “LYV”. More information about Live Nation and its businesses is available at http://www.LiveNation.com .
Quintain Estates and Development PLC is a leading property investment and development company specialising in strategic property acquisition, redevelopment and asset management across the UK. It is currently leading the regeneration of Wembley, with permission for a 1.3bn pounds Sterling transformation of the land surrounding Wembley stadium. With Partners Lend Lease, Quintain is also leading the 5bn pounds regeneration of the Greenwich Peninsula. The company is listed in the FTSE 250. http://www.quintain-estates.com
SOURCE Live Nation -0- 01/25/2006 /CONTACT: Faisel Durrani of Live Nation, +1-310-867-7000; or Michele Clarke, [email protected] , or Ray Yeung , [email protected] , both of Brainerd Communicators, Inc., +1-212-986-6667, for Live Nation/ /Web site: http://www.LiveNation.com http://www.quintain-estates.com / (LYV) CO: Live Nation; Quintain Estates and Development PLC; Hamsard; Wembley London Limited ST: California, England IN: ENT SU: GN-CJ -- DAW023 -- 3334 01/25/2006 07:00 EST http://www.prnewswire.com