An LA City Council committee voted Monday to reject a recommendation from the Department of Parks and Recreation that Live Nation take over the Greek Theatre. The full Council will still have to vote, which has Live Nation feeling pretty confident (above, Live Nation's vision for the venue).
In response to the vote, the company says selecting its "superior financial bid" is best for the city. The theater has been run by Nederlander for nearly 40 years. Entertainment juggernaut AEG is seeking to partner with Nederlander. Live Nation promises to invest more than twice as much in capital improvements as Nederlander. The current contract for the venue runs through October.
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