SCRANTON (CelebrityAccess MediaWire) — As competition between Live Nation and rivals like AEG heats up, control of key regional venues becomes increasingly important. The latest move in this consolidation campaign may be The Toyota Pavilion At Montage Mountain in Scranton, PA.
Majority Commissioner Rob Cordaro told the Citizen-Voice that Live Nation has expressed an interest in purchasing the property from the county. They are the current lessee of the amphitheater which was built in 2000 to the tune of $12 million. Cordaro reported that he estimates that Live Nation currently pays approximately 870,000 a year to lease the facility and apparently, the 2007 capital budget includes a $12 million boost from unspecified asset sales.
While no formal offer has yet been tendered, the commissioner told the Citizen-Voice that ""They want to buy it. They want to have full control of the venue with no continuing obligations." – CelebrityAccess Staff Writers