Latest News

Back to Latest News back

 

Live Nation gets approval for Vector Arena purchase

Live Nation gets approval for Vector Arena purchase
September 7, 2015

New Zealand's Overseas Investment Office has cleared the purchase of Auckland’s 12,000-seat Vector Arena by Live Nation NZ and MHC Investments.

Live Nation NZ and MHC are now free to purchase all the shares of EVENZ, the owner of NZ Venue & Event Management, which in turn is the beneficiary of the QPAM trust that owns and operates Vector Arena.

Live Nation NZ is indirectly 70% owned by New York Stock Exchange-listed Live Nation Entertainment, one of the world's largest producers of live music, with the remaining 30% owned by MHC, an investment vehicle of concert promoter Michael Coppel and Michelle Coppel.

The purchasers have suggested that by owning Vector Arena they can deliver more major acts, that might previously have been financially marginal, to New Zealand.

In a statement on the sale, the Overseas Investment Office explained “the applicants are acquiring Vector Arena as part of an Australasian expansion strategy and plan to leverage their position in the live music industry to increase the frequency and scale of shows at Vector Arena.

"The applicants consider that owning Vector Arena will make bringing previously marginal/uneconomic shows to New Zealand possible.”

Vector Arena was constructed and is operated under a development agreement with Auckland Council-controlled Regional Facilities Auckland.

Under the terms of a development agreement the venue must be transferred back to Auckland Council after 40 years.

23rd March 2015 - PERTH STADIUM MANAGEMENT GETS INDUSTRY LAUNCH

22nd April 2014 - NCR VENUE MANAGER SET TO ENHANCE CUSTOMER EXPERIENCE AT VECTOR ARENA

22nd April 2010 - LIVE NATION LAUNCHES AUSTRALIAN CONCERT BUSINESS

4th January 2010 - VECTOR ARENA ONE OF BUSIEST VENUES OF ITS SIZE


Asking a small favour
We hope that you value the news that we publish so while you're here can we ask for your support?

The news we publish at www.ausleisure.com.au is independent, credible (we hope) and free for you to access, with no pay walls and no annoying pop-up ads.

However, as an independent publisher, can we ask for you to support us by subscribing to the printed Australasian Leisure Management magazine - if you don't already do so.

Published bi-monthly since 1997, the printed Australasian Leisure Management differs from this website in that it publishes longer, in-depth and analytical features covering aquatics, attractions, entertainment, events, fitness, parks, recreation, sport, tourism and venues management.

Subscriptions cost just $90 a year.

Click here to subscribe.

 

supplier directory

The Complete Guide to Leisure Industry Products & Services.

See the directory see all

LEISURE CONCEPTS AUSTRALIA

Leisure Concepts brings the world’s leading fitness equipment brands to Australasia - these include True Fitness, Atlantis Strength, Merrithew (Stott Pilates), Intenza Fitness,…

read more

Fitness / Recreation / Technology / Wellness

 
 

Goplay Commercial Playground Equipment

Goplay designs and manufactures specialised playground equipment for indoor play centres, hotels, food chains, clubs and resorts. If our years of experience and dedication have taught us one thing,…

read more

Play

 
 

Jonas Leisure

JonasLeisure offers a complete range of leading leisure and recreation software brands – envibe, Centaman, Gladstone Health & Leisure, The Retention People, Nutrition Complete and…

read more

Aquatics / Billing / Fitness / Recreation / Sport

 
 

AUSFIT

Ausfit began in 1992, providing software services to the health and fitness sector including ClubWise, a fully hosted web-based product which combines state of the art club management software,…

read more

Billing / Finance / Fitness / Technology

 
 

GLADSTONE MRM

Gladstone Health & Leisure (Gladstone MRM Pty Ltd Australia) is a leading supplier of leisure management and fitness software and is endorsed by leading health and fitness professionals and…

read more

Access / Billing / Fitness / Technology / Venues

 
 

COMMERCIAL AQUATICS AUSTRALIA

Commercial Aquatics Australia provides aquatic solutions nationwide and is one of the largest and most experienced companies specialising in the design, construction, renovation, service, maintenance…

read more

Aquatics / Design / Play / Waterparks

 
 

METRA Australia

METRA Australia is your innovation partner for smart electronic locking, Access Control solutions and cashless payment systems to suit all types of leisure facilities.  Our team’s…

read more

Aquatics / Attractions / Fitness / Recreation / Security

 
 

Enta Australasia

As of the 1st July 2018, Enta Australasia Pty Ltd/Best Union has been rebranded as VIVATICKET Pty Ltd.  Click here to view the VIVATICKET Pty Ltd listing.  19th July 2018 - ENTA…

read more

Technology / Ticketing / Venues

 
 
 
 

get listed with our suppliers directory

Get your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!

list your business