Live Nation has acquired a majority stake in Movistar Arena Buenos Aires, one of Latin America’s leading live entertainment venues.
Live Nation said that since opening in 2019, Movistar Arena Buenos Aires has established itself as one of the region’s premier venues, hosting more than 250 events annually and welcoming over 2.5 million fans each year.
Movistar Arena is a multiuse indoor arena situated in the Villa Crespo neighborhood of Buenos Aires, Argentina.
The arena was inaugurated in 2019 as the primary replacement to the now closed DirecTV Arena and is located on the premises of the Atlético Atlanta club. The naming rights of the arena were acquired by Telefónica’s cell phone division, Movistar, until 2057.
The 15,000-capacity arena has become a destination for both international touring artists and leading regional talent.
Live Nation Entertainment, Inc. is an American multinational entertainment company that was founded in 2010 following the merger of Live Nation and Ticketmaster. It continues to operate both brands as subsidiary companies, promoting and managing ticket sales for live entertainment internationally.
It also owns and operates entertainment venues and festivals and manages the careers of music artists. The arena is currently operated by ASM Global.
Live Nation said that with the acquisition of Movistar Arena Buenos Aires it will support the current management team as they continue to serve artists, fans, and promoters. The venue will remain an open building available to all qualified promoters.
Michael Rapino, President and CEO of Live Nation Entertainment, said, “Movistar Arena Buenos Aires is one of the premier venues in Latin America.
“We are excited to support the Movistar Arena team in providing a first-class environment for artists and fans.”
Gabriel Dantur, CEO of Movistar Arena Buenos Aires, said, “Since opening our doors, Movistar Arena Buenos Aires has become a benchmark for live entertainment in Argentina and across Latin America.
“Live Nation’s investment reflects the strength of what the team has built over the past several years, and we will continue to enhance the experience for artists, fans, partners, and promoters.”
La Nación, former majority owner of Movistar Arena Buenos Aires, will remain as a shareholder deeply committed to the company’s future.
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