Live Nation has announced it’s acquiring Paris’ La Défense Arena in a deal the concert giant says will “bring more shows, upgraded facilities and major benefits to Paris, Île-de-France and the wider French live entertainment industry.”
The arena, located in the Parisian suburb of Nanterre, was owned until now by Ovalto, a holding company whose assets include rugby union club Racing 92, which developed the venue. Its naming rights are held by La Défense, a nearby business district. The deal’s value hasn’t been disclosed.
The venue, which has a capacity of 45,000 when configured for concerts, is Europe’s largest indoor arena. Since opening in 2017, it has hosted major international events like the Olympic Games and the Tour de France, as well as artists including Bruce Springsteen, The Rolling Stones, Kendrick Lamar, Taylor Swift, Hans Zimmer and Dua Lipa.
The deal makes Live Nation a major player among France’s venue operators, which include the likes of LDLC Arena, Accor Arena, and Stade de France.
For Live Nation, the acquisition is another step in its ongoing strategy to expand its global footprint through venue development and acquisitions. It follows two venue deals announced just last month, one being Live Nation’s acquisition of a majority stake in Movistar Arena in Santiago Chile, the other a deal for Live Nation to operate Impact Arena in Bangkok, Thailand.
The La Défense deal requires approval from the French Competition Authority. After it closes, Live Nation plans a “major upgrade program” that will increase the number of productions the venue can handle year-round and “reinforc[e] Paris’ position as a global live entertainment destination.”
“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.”
Angelo Gopee, Live Nation France
“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 Angelo Gopee, Managing Director, Live Nation France.
“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.”
“Ovalto has created a venue that has become unique in Europe in less than ten years,” said Frédéric Longuépée, President of Paris La Défense Arena. “The arrival of Live Nation promises exciting new opportunities for our clients, employees, and partners, whose support has been crucial in making the arena the icon it is today.”
Ovalto President Jacky Lorenzetti added the acquisition will mean that the arena “will be able to leverage the full expertise of Live Nation, the global leader in entertainment, to continue its development.”
Elsewhere in the world, Live Nation recently agreed to acquire the 17,000-capacity Royal Arena in Copenhagen, Denmark, while in South Africa Live Nation has partnered with Stadium Management South Africa and Gearhouse South Africa to launch the 10,500-capacity The Dome. In Nigeria, Live Nation is one of the backers of a new $100 million arena in Lagos.
The company also recently began operating the 15,000-seat Arena Cañaveralejo in Cali, Colombia, in partnership with concert promoters OCESA of Mexico and Grupo Páramo of Colombia.Music Business Worldwide
