Live Nation To Get The Greek?

The Greek Theatre in Los Angeles may come under the management of Live Nation in 2015, after nearly 20 years of operation by Nederlander Concerts, if the L.A. Recreation and Parks Dept. board accepts a recommendation from its general manager when it meets Oct. 1.

Photo: rukes.com

Above & Beyond play one of two sold-out nights at the Greek Theatre in Los Angeles Oct. 12-13. The U.K. electronic music trio was joined by Skrillex.

Live Nation was revealed as the winning bidder Sept. 26 on a Request For Proposals for a new contract, with related documents being made available for public review on Sept. 30, the day before the RAP board is to accept the recommendation to make the reward and begin negotiations on a new agreement.

Nederlander partnered with AEG Live on the proposal, which an initial review of documents shows offered more in cash and a revenue sharing arrangement than did Live Nation, which offered a “Greek Theatre Community Trust,” a fund controlled by Live Nation “for the purpose of irrevocably receiving funds generated through a ‘special ticket sales program.'” The fund will be “established using a guaranteed minimum of 50 previum seat tickets for each show show to be held by Live Nation at the Greek Theatre,” according to Live Nation’s proposal. However, Live Nation offered a larger capital investment over the maximum 20-year life of the deal.

Nederlander CEO Alex Hodges told Pollstar he is “disappointed” with the report, but declined to comment further before the board meeting.

The company, along with partner AEG Live, intends to challenge the report on the basis of what it calls a lack of transparency.

Citing the release of documents less than one full business day before the board’s meeting, “this effectively prevents [stakeholders, including Nederlander-AEG] from having a meaningful opportunity to scrutinize the recommendation and until after the Board votes to approve the award,” Nederlander attorney Andrew Kugler wrote in a letter to Sylvia Patsouras, the president of the RAP board. “Put simply, there needs to be transparency in this process, particularly given the significant red flags raised by the Board Report,” Kugler wrote in the six-page letter.

The Greek Theatre just came off its busiest month in more than a decade, according to the Los Angeles Times, with more than 20 shows — more than Staples Center, Forum, Nokia Theatre and the Palladium combined.

Pollstar will continue to update this story.