After months of back and forth, things are not looking any better for the famous venue. Despite interest from multiple private enterprises, the City could soon be in charge.
In the latest chapter of the ongoing saga, the City has voted not to extend the contract of Nederlander, which has run the venue for more than 40 years. This comes after things began heating up in January, when we told you a proposal from Live Nation (rendered above) was rejected by an LA City Council committee. At the time, Live Nation remained confident in its chances, as the full City Council would still have its say, but in February, the City rejected the firm as well.
The City will now adpot an "open venue" plan, in which no private promoter would have exclusive control. City funds would need to set aside money out of the theater's revenue for upgrades and maintenance. In a statement, Nederlander has urged the City to reconsider.
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