U.S. multinational Live Nation Entertainment becomes the majority shareholder of Movistar Arena after acquiring 51% of the concessionaire through a partnership with Be Live Entertainment Group. This deal strengthens the concert producer's presence in Latin America and aims to enhance the audience experience at the country's main indoor venue. The change of control took effect recently, with a new board including representatives from both parties.
Live Nation Entertainment, owner of Ticketmaster and one of the world's largest concert producers, has acquired 51% of Arena Santiago through its subsidiary Ticketmaster New Ventures Holding Inc., in a deal with Fidelitas Entertainment SpA and Fidelitas SpA, controlled by the Hiller family and producer Bizarro, which form Be Live Entertainment Group. The concessionaire, Arena Bicentenario S.A., reported in an essential fact that this agreement resulted in a change of control, with the venue's concession valid until September 2026.
The new board includes Daniel Hiller from the previous controllers, along with Oscar Mejías, John Hopmans, Venancio DeCastro, and Jason Garner, representatives from Live Nation. Movistar Arena, located in Santiago's Parque O’Higgins, has a capacity for 15,000 people, hosts over 170 annual shows, and receives more than one million attendees per year. Its infrastructure includes 12,000 numbered seats, suites, boxes, and flexible configurations for various events.
Michael Rapino, CEO of Live Nation, stated: “Latin America is one of the most vibrant regions in the world for live music, and Chile is a fundamental stop for artists touring the continent. Partnering with Be Live allows us to strengthen what already works, bring even bigger shows, and continue driving the live music experience for fans across the region.”
Daniel Hiller, CEO of Be Live Entertainment Group, added: “Live Nation's global experience, combined with the venue's deep connection to the Chilean public, will help us continue delivering world-class experiences to some of the planet's most passionate fans.”
Be Live operates venue management in Chile and Colombia, event production via Bizarro, and hospitality services. The deal could be reviewed by Chile's National Economic Prosecutor's Office due to Ticketmaster's presence in the country. The concession was extended in 2023 by two years due to the pandemic and the venue's use for the Pan American Games. In 2024, the company reported revenues of $14.235 million and profits of $4.213 million. The naming rights with Movistar expire in 2026, coinciding with the potential sale of Telefónica's Chilean operations.”},
