Live Nation Entertainment has agreed to halt its venue-management contract for Wembley Arena, London, as the group focuses its international expansion on music promotion, festivals and new landmark venues.

Live Nation, which has held the venue-management contract at Wembley Arena since April 2006, will concentrate on music promotion of major acts at the famous London arena, where it is already the largest host of big-name performers.

Paul Latham, UK president of Live Nation, said: “We have been privileged to operate ...