Metro seeks bids to operate Ascend Amphitheater

Metro is opening up the bidding process for an operator of the popular Ascend Amphitheater .

Why it matters: Live Nation has run the downtown amphitheater since it opened, but the new opportunity figures to attract serious competition from the nation's concert industry giants.

In the room: Live music companies such as AEG, Ryman Hospitality, the Madison Square Garden Entertainment and tvg hospitality are among the likely bidders.

Flashback: Live Nation won a competitive process in 2014 to run Ascend Amphitheater. The firm partnered Red Light Management, the Nashville Predators and the Nashville Symphony to secure the winning bid.

• Since it opened in 2015, Ascend has become one of Nashville's premiere music venues.

State of play: Live Nation is the unquestioned concert industry leader in the Nashville area. The firm has business relationships with everything from smaller clubs like the Basement East and Brooklyn Bowl all the way up to Bonnaroo .

• A majority of shows at Bridgestone Arena are promoted by Live Nation, and its sister company, Ticketmaster, handles the ticketing for many venues across the city.
• AJ Capital Partners submitted plans earlier this year for a four-story music hall in Wedgwood-Houston, and there is speculation Live Nation will partner with the real estate firm on it.

Yes, but: Government and music industry scrutiny on Live Nation/Ticketmaster is at an all-time high. The Department of Justice sued Live Nation for antitrust violations earlier this year.

• In Nashville, independent music venue operators have argued that Live Nation's emergence has disrupted the city's live music ecosystem .

What we're watching: AEG could be a major player for the bid. It is Live Nation's nearest competitor nationally, and it is preparing to bring its own downtown concert hall online soon . Combining the new venue with Ascend would help increase AEG's Nashville presence.

• Ryman already runs two of the city's most prominent venues in the Ryman Auditorium and the Grand Ole Opry, making it a logical company to consider the new bid.
• tvg hospitality has earned praise for its operation of its amphitheater in Huntsville, Alabama and could pursue a contract at Ascend as well.