Live entertainment titan Live Nation Entertainment Inc. purchased the Santa Ana Observatory music hall and is finalizing a buy of the San Diego North Park Observatory, according to an April 12 press release.
Live Nation began to exclusively book both locales in December, the announcement said.The Santa Ana Observatory has a 1,000-seat capacity, and the San Diego North Park seats 1,100 people.
Live Nation has a majority share of both the U.S. primary ticket market, and the event promotion and booking market. The Beverly Hills-headquartered company also owns several venues, and has been exploring a more aggressive real estate acquisition strategy.
“We should capture not just the content and the food and beverage, but the equity value of real estate over time,” said Live Nation chief executive Michael Rapino, during a February earnings call.
Media and entertainment reporter Matthew Blake can be contacted at (323)556-8332 or firstname.lastname@example.org
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