Live Nation Awarded Two-Year Randall's Island Contract

(CelebrityAccess MediaWire) — Two rounds of bidding to produce a two-year (2006-2007) seasonal concert series at Randall's Island Park in New York City, including management and operations, was awarded to Live Nation on the second Request For Bid (RFB), edging out AEG-LIVE. Flat fees only were considered.

According to the RFB, the first year's guaranteed flat fee had to be no less than $1.2 million; the second year no less than $1.3 million for a maximum of 13 event days per season. The Parks Department has opted for a stand-alone structure with a 20,000 capacity. With permission from the New York Parks Department, capacity could exceed 20,000.The RFB mandated that at least one event per season must be community-oriented.

Live Nation's $3.75 winning bid included $1.825 million for the first year and $1.925 million for the second year. AEG-LIVE's $3.605 million bid was $1.625 million for the first year and $1.980 million for the second year. Live-360 was also a bidder in the first round. — Jane Cohen and Bob Grossweiner

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