The deal between Philip Anschutz's company and Tower Hamlets Council will dramatically alter the city's festival landscape in 2018.
AEG Presents has secured the rights to East London's Victoria Park after striking a deal with Tower Hamlets Council.
AEG today confirmed its plans to hold a ten-day festival in Victoria Park called All Points East, running May 25th through June 3rd and headlined by The xx and The National, with 200 more acts to be announced. The deal will dramatically alter London's festival scene in 2018, dislodging both Field Day and Lovebox from their long-standing homes. Field Day last week confirmed its plans to move elsewhere in 2018.
A press release announcing All Points East festival stated that AEG Presents and Goldenvoice (which is owned by AEG and runs Coachella) "were awarded the Victoria Park contract by Tower Hamlets following an open tender process."
Tower Hamlets mayor John Biggs said: "The council is pleased to be working with AEG, who were selected following a rigorous procurement process to deliver some exciting events in 2018 which can be enjoyed by local people, Londoners and visitors from across the UK."
Jim King of AEG Presents said: "We are thrilled to be able to launch this new festival concept and bring some of the world's most exciting artists to Victoria Park. With a new three-day music festival followed by a programme of midweek events offering open access to the local community all culminating in three huge standalone shows, we're confident that this is the most exciting new event in the country."
Philip Anschutz's AEG Live currently has the rights to London's Hyde Park. It also controls London's O2 Arena and California's Coachella festival.