Live Nation, the spin off live entertainment company of the Clear Channel group, has announced a fifteen year agreement to manage and promote London's Wembley Arena.
The deal was done through Hamsard 2786, a joint venture company owned by Live Nation and Gaiety Investments Limited, and will bring the running of the Wembley venue into the same group who own and/or manage London venues The Astoria, The Mean Fiddler, Apollo Hammersmith and The Forum, and Cardiff's International Arena and Sheffield's Hallam FM Arena. The seventy year old venue in North West London has recently undergone a £50 million refurbishment, which it owners, Quintain Estates, say has restored the venue to "the pinnacle of international touring".
Confirming the deal, Live Nation CEO Michael Rapino told CMU: "Wembley Arena is one of the great icons of live entertainment. 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."