LONDON (CelebrityAccess) — Live Nation is reportedly in talks over the acquisition of one of the UK's largest music promoters, Metropolis Music.
An acquisition would serve to solidify the already existing relationship between the two promoters, which see the collaborate on venue chain Academy Music Group, and V Festival as well as on tours for artists such as Coldplay.
According to Music Week, the acquisition talks follow the exit of longtime Metropolis veterans Paul Hutton and Conal Dodds exited the company to launch Crosstown Concerts, after their own bid to take over Metropolis from founder Bob Angus failed to come to fruition.
In a previous interview, Hutton told Music Week that Angus was interested in stepping back from the day-to-day to focus on other things.
“It was not a takeover [bid] – that would be the wrong word – but Bob [Angus] was looking to step back somewhat and move on to other things," Hutton told Music Week in the October interview.
"We had two-and-a-half years of negotiations that came to nothing, which was unfortunate, but in that time I started to think, Is this the right place to do my last 10-15 years of promoting? Circumstances dictated that something else had to happen.”