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Live Nation to Stop Organizing Concerts in London's Hyde Park (Report)

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The live events giant has pulled out of a bidding process for a new contract with the venue amid noise restrictions and other issues.

LONDON - Live Nation is planning to stop putting on concerts in London's Hyde Park amid a recent debate about noise restrictions and other issues.

The company, in which John Malone's Liberty Media owns a big stake, has pulled out of a tender process for a new five-year contract with the venue and sent a formal letter of complaint, the Guardian reported.

Live Nation has organized events in Hyde Park for more than a decade, including the annual Wireless Festival and the Hard Rock Calling event. The live events giants this summer also organized 25 days of events tied to the London 2012 Summer Olympics in Hyde Park.

According to the Guardian, Live Nation's letter to the Royal Parks Agency, which oversees the tender process, raised the issue of a Hyde Park noise curfew that in July led to organizers' decision to cut off the microphones of Bruce Springsteen and Paul McCartney during an encore of a Springsteen concert.

It said the letter also cited crowd safety concerns, unrealistic revenue assumptions and the complex logistics and high costs of putting on big events in a central location in London.

The tender process focuses on a new contract for the 2013-2019 period. The Guardian said that Live Nation declined to comment.

Email: Georg.Szalai@thr.com

Twitter: @georgszalai