Live Nation Buys Indianapolis Venue From Shriners

INDIANAPOLIS (AP) _ Concert promoter Live Nation Entertainment has reached a deal to buy the Old National Centre in downtown Indianapolis from the Murat Temple Association.

The century-old landmark has been affiliated with the Shriners since its construction, although Live Nation began operating its 2,600-seat theater in 1995.

Live Nation told the Indianapolis Business Journal that Shriners International must still approve the sale, which could be completed late next year.

William Rasner of the Murat Shriners tells The Indianapolis Star that the group hadn't considered selling the building until Live Nation approached with an offer. Rasner says the building is larger than what the Shriners need.

Terms of the sale weren't disclosed.

The Shriners sued Live Nation in 2010 over its sale of building naming rights to Evansville-based Old National Bank.