September 18, 2009

Live Nation sells Boston Opera House

Live Nation said Friday it has completed the sale of The Boston Opera House, the Orpheum Theatre and Paradise.

The three Boston venues sold for about $22.5 million in cash plus an earn-out at the Orpheum for the next five years. An earn-out agreement normally includes a promise to pay more if certain criteria are met.

Boston Opera House Ventures LLC bought the venues, the Boston Herald reported.

Live Nation said it will continue to promote non-theatrical shows at the three venues and will continue to produce shows at its owned or operated venues in the Boston area, including The Comcast Center, Bank of America Pavilion and House of Blues Boston.