Concert Promotion Giant Live Nation Buys Echoplex and the Echo in Echo Park, the Regent in DTLA
Live Nation said it has acquired Los Angeles-based concert promoter Spaceland Presents, including its local music venues Echoplex, the Echo and the Regent, as the giant events firm continues to expand its footprint in Southern California.
The acquisition, which closed Thursday, is the latest in a string of about a dozen deals that Beverly Hills-based Live Nation has made with Southern California music venues in the past year amid a growing consolidation in the industry.
The concert promoter has spent $20 million to $25 million on the transactions, which range from property purchases, exclusive booking or management arrangements or co-promotions, according to a person familiar with the deals who was not authorized to comment on them.
Live Nation said properties like the Echoplex, a venue in Echo Park that holds 660 people, provide more options for musicians and bands by offering them a range of club sizes in different locations. The Regent, a theater based in downtown L.A., has a capacity for about 1,000 people. The Echo on Sunset Boulevard holds 350.
Read the full story on LATimes.com.