Live Nation NZ acquires Vector Arena

Music Week reports that Live Nation NZ and MHC Investments have been cleared to acquire Auckland’s 12,000-capacity Vector Arena in New Zealand for an undisclosed sum. Under the terms of a development agreement with Auckland Council-controlled Regional Facilities Auckland, the Arena must be returned to the council after 40 years. Live Nation NZ is 70% owned by Live Nation’s Ticketmaster NZ business, with the remaining 30% owned by MHC, an investment vehicle of promoter Michael Coppel (pictured) and Michelle Coppel. Upcoming shows at the venue include Maroon 5, Imagine Dragons and KISS.