Christopher BarrettLive Nation said it has signed an agreement to acquire the 40,000-capacity Paris La Défense Arena from Ovalto.
Completion of the transaction is subject to approval by the French Competition Authority. Live Nation said that should the deal go through, it would welcome all promoters to stage shows at the huge arena.
Europe’s largest indoor venue, Paris La Défense Arena is best known as a major live music and sports venue that has hosted countless major events including concerts by Robbie Williams, Rolling Stones and Paul McCartney, along with sports events including the Racing 92 rugby matches. The venue, in the Nanterre district of Paris, was converted into a swimming pool for the Paris 2024 Olympic and Paralympic Games.
Live Nation said that once the deal is complete it will oversee a major upgrade programme, with the aim of enabling the arena to host ‘significantly’ more productions year-round.
“Our ambition is simple: to make Paris La Défense Arena a venue that welcomes more productions, with the finest facilities for artists, all event producers and promoters and, above all, the audience,” said Live Nation France MD Angelo Gopee. “This ambition is rooted in a strong commitment to local inclusion, education and cultural access – ensuring major live experiences drive local development and inspire younger generations.”
“In just ten years, we have made Paris La Défense Arena a unique venue in Europe with a solid business model,” Ovalto president Jacky Lorenzetti. “Today, a new chapter begins for the arena and its employees. Paris La Défense Arena will be able to leverage the full expertise of Live Nation, the global leader in entertainment, to continue its development.”