London's O2 Arena up for sale

US concert venue company Anschutz Entertainment Group that owns the site could fetch £4.25 billion

London's O2 Arena up for sale

Photo: Emilie Bailey/NME

The giant US concert venue company that runs London's O2 Arena is up for sale.

Anschutz Entertainment Group (AEG), who own a stake in David Beckham's football team LA Galaxy, also owns AEG Live – the world's second biggest ticket and live music company behind Live Nation, the Evening Standard reports.

The firm's owners said it was "an appropriate time" to sell up as the company could "maximise value for all concerned". It has been speculated that the whole company could fetch £4.25 billion.

The O2 arena is one of AEG's biggest venues after it turned the Millennium Dome into a massive gig arena. In the next few months alone it will host Muse, The Killers, Mumford and Sons, Florence and the Machine and The Black Keys.

The Government sold the £850 million Dome for the reported sum of £1. AEG subsequently invested in the space to create the 20,000 seater venue, for which O2 pays a reported £6 million per year for the site's name.

Read More On This Artist

More News
Muse working with AC/DC producer on new studio album
Iggy Azalea teams with MØ for new single 'Beg For It' - listen
Thurston Moore criticises Twitter users who 'exist on scandal'
Everything Everything to complete new album in public during Manchester Library artist residency
Superfood stream debut album 'Don't Say That' – listen
Renowned music photographer David Redfern dies
Joanna Gruesome announce 2015 London residency
Green Day's Billie Joe Armstrong performs live with Joan Jett - watch
Kenny G denies meddling in foreign affairs after attending Hong Kong pro-democracy protest
Ozzy Osbourne urges original drummer Bill Ward to rejoin Black Sabbath for final album
Courtney Love claims she and Dave Grohl have a £6k bet about strippers
Martin Scorsese to produce The Grateful Dead's 50th anniversary documentary
Radio 1 to decide if they'll play 'UKIP Calypso' on Official Chart Show
Pink Floyd's Nick Mason compares Roger Waters to Stalin
Foo Fighters unveil second 'Sonic Highways' single - hear 'The Feast and The...
Noel Gallagher performs 'How Soon Is Now?' with Johnny Marr on stage in London – watch
16 people hospitalised after drug overdoses at Skrillex concert
Run The Jewels release second album early online for free
Coldplay, Ed Sheeran, One Direction & more to play inaugural BBC Music Awards
Death Cab For Cutie say their new album will 'win back' fans
The Flaming Lips' Wayne Coyne discusses Kesha's Dr Luke abuse claims
U2 say their free album was 'a bottle of milk in people's fridge that they weren't...

More News

Comments

Please login to add your comment.

Latest Tickets - Booking Now
 
Know Your NME
 

 
NME Store & Framed Prints
Inside NME.COM