Live Nation acquires majority stake in three Prague venues as it expands across Central and Eastern Europe
Live Nation has agreed to acquire a majority 51% stake in three Prague live entertainment venues, in a joint venture with Czech investment group PPF, marking the company's largest investment in Central and Eastern Europe to date. The deal covers the 20,000-capacity O2 arena, the 5,000-capacity O2 Universum and the 4,000-capacity Forum Karlín, and extends Live Nation's ongoing push to acquire and manage major venues across multiple continents amid strong company growth.
Under the agreement, announced on Friday 7 August, PPF's subsidiary Bestsport will retain the remaining 49% stake and continue owning the venues and related real estate, while the joint venture handles day-to-day operations, bookings and programming; existing management teams stay in place and the venues remain open to all promoters. The transaction's value was not disclosed. It follows a string of Live Nation venue acquisitions in 2026, including arenas in Bangkok, Milan, Buenos Aires and Copenhagen, as the company reported second-quarter revenue of $7.7 billion (up 9% year-on-year) and targets 48 new venues within five years.
In short
- Live Nation buys 51% stake in three Prague venues via PPF joint venture
- Includes 20,000-capacity O2 arena, part of wider CEE expansion
- Follows recent arena acquisitions in Bangkok, Milan, Buenos Aires, Copenhagen
Explained simply
Live Nation is a global live entertainment company that promotes concerts and operates venues. PPF is a Czech investment group; its subsidiary Bestsport owns the Prague venues and the land and buildings associated with them.
The venues include O2 arena, a large concert and sports venue, as well as O2 Universum and Forum Karlín. Live Nation’s expansion into venue operations is part of a wider trend of major entertainment companies investing in places where events are staged, giving them a role in both organising shows and running venues.
Who controls bookings and day-to-day operations can affect how venues work with artists, promoters and audiences. The arrangement also matters to Czech entertainment because the venues remain open to promoters beyond the joint venture’s partners.