Live Nation unloading three Boston venues
House of Blues, Comcast Center remain with companyBOSTON -- Concert promoter Live Nation Inc. is selling three Boston venues for $22.5 million to pay down some of its debt.
The Los Angeles-based company said Tuesday that it would sell the Boston Opera House, the Orpheum Theatre and the Paradise Rock Club by the third quarter. The company did not announce the buyer.
Live Nation will continue to promote concerts at the venues, which it called non-core real estate holdings.
President and Chief Executive Officer Michael Rapino said in a statement that half the proceeds from the transaction would be applied as a permanent reduction to the company’s term loans.
Live Nation has other venues in the Boston area, including the Comcast Center in Mansfield and the House of Blues.