Live Nation Looking To Sell Sleep Train Amphitheatre

MARYSVILLE, CA (CelebrityAccess MediaWire) — Live Nation has added a third venue to its sale rack, reportedly exploring offers for the 18,000-capacity Sleep Train Amphitheatre in Marysville, California.

The promotion giant recently announced that it is also exploring the possible sales of the Verizon Wireless Amphitheatre in Noblesville, Indiana, and the Germain Amphitheatre in Columbus, Ohio.

“We are continually evaluating our real estate holdings on a national basis and our decision to look into a sale at this time is based on a number of factors,” Live Nation officials said in a statement. “This certainly does not mean that a sale is imminent or necessarily guaranteed.”

CB Richard Ellis, who is handling the other two venues, is handling a possible sale of the Sleep Train Amphitheatre. Any potential sale would not disrupt the 2007 concert season, Live Nation said.

In the fall, Live Nation announced it would attempt to sell some unnamed venues to "maximize the value of our real estate portfolio for our shareholders" and instead focus on operations in its top markets. The venues, the company said in a Nov. 8 news release, "are either in small, non-core markets or larger markets where the alternative purpose value of the real estate is greater than the value to us as a music venue." –by CelebrityAccess Staff Writers

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