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Live Nation Takes Majority Stake in Prague Venue Joint Venture
August7
Live Nation Entertainment has agreed a partnership with Czech investment group PPF Group covering three of Prague’s leading live entertainment venues, marking what the companies describe as Live Nation’s largest investment in Central and Eastern Europe to date.
The agreement covers the 20,000-capacity O2 Arena, the 5,000-capacity O2 Universum and the 4,000-capacity Forum Karlín.
Under the structure, PPF Group, through its wholly owned subsidiary Bestsport, will continue to own O2 Arena, O2 Universum and the related real estate assets. A newly established joint venture will take responsibility for the venues’ day-to-day operations, booking and event programming.
Live Nation will hold a 51% stake in the joint venture, while Bestsport will own the remaining 49%.
The inclusion of Forum Karlín extends the partnership across a broader range of venue capacities and event formats. The three venues will continue to operate under their existing brands.
Live Nation said the venues will remain open to all artists, promoters and event organisers, while the existing management teams are expected to remain in place.
The transaction remains subject to customary regulatory approvals and closing conditions. Financial terms were not disclosed.
Expanding Prague’s position in the touring market
The partners said they intend to invest in the venues over the long term, including improvements to facilities and the experience for artists and audiences.
The partnership will also connect some of Prague’s leading venues directly with Live Nation’s international touring and venue network, with the companies aiming to increase both the number and profile of events presented in the Czech capital.
O2 Arena opened in 2004 and was acquired by PPF Group in 2014. The adjacent O2 Universum opened in 2019, while PPF added Forum Karlín to its portfolio in 2021.
Paul Antonio, president of Live Nation EMEA, said: “Prague has been one of our most important markets for many years. We’ve invested here by building a strong local team, developing long-term partnerships and bringing major artists and tours to Czech fans. This partnership is the natural next step.
“Our ambition is simple: build on what’s already working, keep improving the venues and bring even more great artists to Prague, while making the experience better for fans.”
Didier Stoessel, co-CEO of PPF Group, added: “For more than two decades, O2 arena and O2 Universum have played a central role in Czechia’s cultural, sporting and social life. This investment represents the next stage in their development and will help ensure they continue to grow and evolve for many years to come.”
Live Nation expands in Central and Eastern Europe
The Prague agreement follows further expansion by Live Nation across Central and Eastern Europe.
Earlier this year, the company acquired interests in Romania-based promoter Emagic and Slovakia’s Vivien, while Live Nation also operates in markets including Hungary, Poland and Czechia, alongside partnerships in Bulgaria and Greece.
The company recently reported second-quarter revenue of $7.7 billion (€6.7bn), up 9% year-on-year, with international markets contributing to its growth.
Global venue expansion continues
The Prague partnership forms part of a broader push by Live Nation into venue ownership, operation and development internationally.
In recent months, the company has announced a partnership with Brazilian real estate developer Cidade Center Norte for a proposed new arena in São Paulo, which would become Live Nation’s first venue in the city.
In Saudi Arabia, SURJ Sports Investment, Live Nation and Oak View Group have formed a joint venture aimed at supporting the development of sports and entertainment infrastructure.
Live Nation has also strengthened its relationship with Atlético de Madrid through a long-term agreement covering concerts and events at the Riyadh Air Metropolitano and the club’s Ciudad del Deporte development. The parties are additionally planning a new 20,000-capacity arena in Madrid together with Oak View Group.
Elsewhere, Live Nation acquired a majority stake in Movistar Arena Buenos Aires in June and previously entered a majority-stake partnership with BeLive Entertainment Group, operator of the 15,000-capacity Movistar Arena Santiago.
The company has also agreed deals involving Italian venue operator ForumNet Group, Paris La Défense Arena and Copenhagen’s Royal Arena, while signing on as strategic partner for a planned 20,000-capacity arena in Munich.
Live Nation has now completed or announced a series of arena transactions during 2026, including Impact Arena in Bangkok, Forum in Milan and Movistar Arena Buenos Aires, alongside its planned São Paulo development.
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