Several bidders were invited to submit a formal tender proposal for the contract by Royal Parks, with Live Nation eventually winning out. This decision was then appealed, although the appeal was turned down.
Live Nation festival director John Probyn says that he is delighted with the prospect of continuing to work with Royal Parks.
"Hyde Park is a unique venue in the middle of a unique city," he explains. "We intend to continue to bring the very best in music and entertainment to the heart of the community. I am delighted that we can continue to develop shows in Hyde Park and work with the professional agencies who support us such as Royal Parks, Westminster City Council, the Metropolitan Police and our partners."
Live Nation's ten-year history with Royal Parks has seen events such as Party in the Park, Live 8, Picnic in the Park, the O2 Wireless Festival and Hard Rock Calling being staged in Hyde Park.