A county commissioner said
At the time, Lackawanna County majority commissioner Robert Cordaro told the Citizens’ Voice of Wilkes-Barre that Live Nation had expressed interest in making a deal.
“They want to buy it,” Cordaro said. “They want to have full control of the venue with no continuing obligations.”
But that was then, and thus far, Live Nation has yet to submit any proposals for the 17,500-seat venue, which it currently leases for a reported $877,000 per year.
Although the Toyota Pavilion isn’t even officially on the market, Cordaro told the paper county officials would be willing to discuss a sale – if LN was serious about making an offer.
Debt service on the property costs the county about as much money annually as it takes in from Live Nation, leaving it “about break-even,” he said.
Cordaro also told the Citizens’ Voice a large asset sale (like the shed) would positively impact the county’s capital budget for 2007, and that it will most likely be sold. He declined to state an asking price.
The shed reportedly cost $12 million to build and has changed its name twice since it opened as the Performing Arts Center of Montage Mountain.
The facility was originally operated by Metropolitan Entertainment, and the county switched to then-Clear Channel Entertainment in 2002.