SAN ANTONIO, TX (CelebrityAccess MediaWire) — Live Nation has announced that it will be selling the Verizon Wireless Amphitheater in Selma, Texas, but with one small hitch in the deal.
The buyer of the San Antonio-area shed would be barred from using it as a live concert venue for an undisclosed amount of time. The restriction is meant to keep Live Nation’s competition from booking concerts at the site and implies a buyer would be purchasing the site for the land, not the 20,000-seat amphitheater.
Live Natoin has posted the shed with brokerage firm CB Richard Ellis, and has a list price of $6 million for the 110-acre site.
Live Nation shows already booked for the venue would have to be honored by any buyer, including performances by Ricky Martin, Kenny Chesney and Ozzy Osbourne this summer.
Live Nation said a sale was not imminent or necessarily guaranteed.
“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 spokesman Uri Bolger told the San Antonio Express-News.
“Regardless of whether a sale is completed or not, we are committed to the 2007 concert season and will continue bringing fans the same great music and customer service they have come to expect.” –by CelebrityAccess Staff Writers