Live Nation Entertainment has agreed to halt its venue-management contract for Wembley Arena, London, as the group focuses its international expansion on music promotion, festivals and new landmark venues.
Live Nation, which has held the venue-management contract at Wembley Arena since April 2006, will concentrate on music promotion of major acts at the famous London arena, where it is already the largest host of big-name performers.
Paul Latham, UK president of Live Nation, said: “We have been privileged to operate Wembley Arena. But we are focusing increasingly on promotion and new venues as we review our Europe-wide events calendar.”
Quintain, owners and developers of Wembley Arena, thanked Live Nation for its management of the venue over the past six years and welcomed its decision to continue to be the site’s leading promoter.
James Saunders, Chief Operating Officer of Quintain, said: “We look forward to maintaining a positive relationship with Live Nation going forward and making a smooth transition to the new venue operators. All of the shows already on Wembley's calendar for 2013 will take place and we look forward to adding even more world class content at our iconic venue.”
Live Nation said it 'is committed to remaining the leading event promoter at Wembley Arena'.
Termination of the venue management contract at the North London arena comes as Live Nation is finalising its event and venue programme for 2013. The company is planning to manage and promote a record number of major acts and music festivals in Europe next year.