Victor De la Cruz || 1^1 Iclll Manatt, Phelps & Phillips, LLP manatt | phelps | phillips Direct Dial. (310)312-4305 E-mail:
[email protected] October 21, 2014 Client-Matter: 45860-031 BY MESSENGER AND E-MAIL President Patsaouras and Honorable Commissioners Board of Recreation and Parks Commissioners City of Los Angeles 221 N. Figueroa Street, Room 1510 Los Angeles, CA 90012 Re: The Greek Theatre Concession Award - Response to Mayer Brown Letters of October 8, 2014 and October 20, 2014 Dear President Patsaouras and Honorable Commissioners: On behalf of Live Nation Worldwide, Inc. ("Live Nation"), we write in response to the October 8, 2014 and October 20, 2014 letters from Nederlander-AEG's legal counsel. Unfortunately, these letters are nothing more than additional attempts to confuse and delay the process after your staff and a five person independent panel of experts (the "Evaluation Panel") unanimously found that Live Nation by far delivered the superior proposal to operate the Greek Theatre for the next 20 years. Live Nation scored a total of 455 points out of a possible 500, whereas Nederlander-AEG only scored 396. Live Nation delivered a vastly superior proposal - it is that simple. This letter will demonstrate, and even the most cursory review of the two proposals will confirm, that Nederlander-AEG's proposal - like Nederlander's current operation of the Greek Theatre - leaves much to be desired. Whether it's the Nederlander-AEG proposal's inappropriate use of Patina Group venue photographs (Patina Group is not Nederlander's, but Live Nation's food and beverage partner), a capital improvement contribution that isn't even half of Live Nation's, or a misleading pro forma projecting revenue from up to 80 shows when the proposal guarantees 50 shows elsewhere, the 40-year incumbent's proposal was so flawed that it could only have come from a company with a self-entitled belief that it, and not the people of Los Angeles, own the Greek Theatre.