22 January 2013 Last updated at 04:36 ET

Live Nation secures Olympic Park for concerts

Bruce Springsteen's duet with Sir Paul McCartney was cut short after his Hyde Park concert over-ran

Live Nation is to host a series of concerts and festivals at the Olympic Park and Stadium this summer.

The Wireless Festival and Hard Rock Calling - which were previously held in London's Hyde Park - are the first events confirmed for the venue.

The move ends a 10-year link the concert promoter had with The Royal Parks.

Live Nation previously had complaints from residents about noise levels at events it has hosted in the park.

Last July, fans at Hard Rock Calling were left bemused when Bruce Springsteen and Sir Paul McCartney's microphones were switched off during a duet after a concert over-ran.

According to Westminster Council, Live Nation took the decision to end the concert "to comply with their licence".

It is believed the concert promoter pulled out of bidding for a new contract with the Royal Parks Agency (RPA) in a dispute over the tendering process.

It had been reported Live Nation branded the process "flawed" saying the RPA did not recognise the complex logistics and costs associated with running big events.

In November, rival promoter AEG Live was eventually awarded a new five-year contract to stage concerts at the park.

The RPA said the company would provide entertainment while minimising the impact on the local community.

Live Nation was awarded the Olympic Park contract by the London Legacy Development Corporation (LLDC), which is responsible for future use of the Olympic Park and its venues.

"The confidence now shown by one of the world's leading live entertainment promoters to relocate two of its biggest music festivals from the centre of the capital is a ringing endorsement of our legacy plans," Mayor of London and LLDC chairman, Boris Johnson, said.

"Along with the other major international sports events we have already secured this latest news proves that the park has a very bright future indeed."

Both Wireless and Hard Rock Calling will be held in July in the North Park.

Live Nation said it plans to announce "some major concerts with world-renowned artists" over the coming weeks.