LOS ANGELES (CelebrityAccess) — The Los Angeles Recreation and Parks Commission has agreed to Live Nation's bid to operate the city's iconic Greek Theatre.
The decision had been held up at two previous meetings of the Commission, but at the Oct. 23rd meeting, Commissioner Iris Zuniga, who had been the blocking vote, conceded and the Commission approved Live Nation's bid.
Live Nation still needs to secure the support of the Los Angeles City Council and Mayor Eric Garcetti before their management bid for the venue is officially approved. Nederlander will continue to oversee operations at The Greek until the end of their current contract, which runs until October, 2015.
In a statement after the decision, Live Nation said:
"The Greek is a Los Angeles treasure, owned by the people of the city. Live Nation is looking forward to setting a new standard for this iconic venue, investing heavily to return it to its rightful place as a world-class entertainment destination for fans and artists while being sensitive to neighbors in the surrounding community.
Live Nation is committed to operating the Greek Theatre to the highest standard, driven by hometown pride. Live Nation is a locally-based company, with headquarters less than 10 miles from the Greek Theatre. They employ 2,500 people in Los Angeles County through our many local venues, which include the House of Blues, the Wiltern Theater and the Palladium."
Alex Hodges, CEO Nederlander Concerts said in a statement: “Nederlander Concerts and AEG Live are disappointed that the Board did not carefully consider the overwhelming evidence that the panel's decision was premised on significant errors that infected the entire process. Today's recommendation could cost the city and taxpayers as much as $20 million, over the full length of the contract. We welcome the opportunity to work with the City Council Committee on Arts, Parks, Health, Aging and River and encourage them to consider the issues that have been raised and not addressed when the Live Nation proposal is before them. We are extremely grateful for all the community support we have received, including the 27,000 people who have signed a petition in support of our operation and vision for the Greek Theatre.” – Staff Writers