Carey advises Live Nation on the landmark acquisition of majority control of Movistar Arena

Carey – In a move that redefines the entertainment landscape in the Southern Cone, Live Nation Entertainment has announced the formal closing of its strategic partnership with BeLive Entertainment Group. Through this agreement, the global firm becomes the majority stakeholder in Movistar Arena Santiago, Chile’s most important multi-purpose venue.

The transaction, which officially closed on December 11, 2025, represents a milestone for the local industry. While the deal value remains confidential, the scale of the agreement required a complex legal framework coordinated across both United States and Chilean jurisdictions.

Legal Support Behind the Deal

To finalize this acquisition, Live Nation was advised by the international firm Latham & Watkins and the Chilean firm Carey. The Carey team was led by partners Francisco Ugarte, Lorena Pavic, and Camilo Lledó, supported by an extensive group of associates.

The other parties involved in the transaction were advised by the law firm Barros & Errázuriz, ensuring a smooth transition in the venue’s corporate structure.

Impact on the Regional Industry

With this move, Movistar Arena—the nerve center for concerts, sports, and corporate events located in Parque O’Higgins—integrates directly into Live Nation’s global network of venues. This promises:

• Increased Flow of International Artists: Being operated by the world’s largest promoter, Chile is expected to strengthen its position on global tour routes.

• Technological Enhancements: Potential investments in infrastructure and fan experience following the multinational’s global standards.

• Market Strengthening: A signal of confidence in the Chilean economy and its capacity to host world-class events.

The status of the operation is reported as closed, marking the beginning of a new era for entertainment in Santiago under the leadership of the Beverly Hills-based company.

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