RALEIGH (CelebrityAccess MediaWire) — Live Nation's is working to strike a deal with Time Warner Cable to sell naming rights to their popular Walnut Creek Amphitheatre in Raleigh, North Carolina.
According to Triangle Business Journal, Live Nation's head of southeastern operations Rob Wooten has called Time Warner, the "lead runner" in the deal which would be worth, by some estimates, $600,000. Although LN is handling the negotiation process, the city of Raleigh has right of refusal on possible candidates.
Formerly known as the Alltel Pavilion, the shed went without a name sponsor last year after Alltel declined to renew their sponsorship agreement. Alltel had been the name sponsor since 1999, when they came on board for $2 million over 5 years. They renewed again in 2004 for 3 additional years, shelling out $1.5 million. Live Nation splits the naming rights revenue with the city and the venue has earned an average of $400,000 a year in this vein. – CelebrityAccess Staff Writers