It was announced in April that VMS Live would take over the running of the Guild Hall venue following speculation about its future.
Manchester-based VMS is a specialist live music and venues company.
It offers bespoke venue development, management, promotional and operational solutions for partner venues.
In addition it promotes and stages event brands including, Inner City Live, Sounds of Summer and over 500 promoted shows annually as VMS Live presents.
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Current and recent clients include ARC (Arena Racing Company), Manchester Academy, Student Central (ULU), Union of UEA Students Union (The Nick Rayns LCR, Waterfront & Studio), Glyndwr University Wrexham (William Aston Hall & Catrin Finch Centre), Warwick University Students Union (Copper Rooms), Hull (Welly, Polar Bear & Fruit), Liverpool Olympia, Preston Guildhall, Portsmouth Pyramids, Brixton Electric, Telford Town Council and several Local Authorities and event organisers.
In April, current owner Simon Rigby confirmed the venue was in "final stage discussions" with VMS Live to take over the operating of the city venue.
He told Post at the time: "We have self-operated the Guild Hall to get it to a level where a serious operator would be interested in it.
"Operating venues is not our strength as we have previously discussed.
"VMS are a well-established industry operator and promoter and will take Preston Guild Hall on to a new level of acts and attractions."
He described VMS asas "industry experts with a wealth of experience".
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"We were impressed with VMS’s in depth knowledge and experience in the operation of major regional venues.
"After all the speculation surrounding the Guild Hall’s future VMS and PGH felt it was best to confirm our joint intentions."
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Central to the negotiations is a financial package that will enable the liabilities of the venues to be serviced.
Completion was expected in April but was delayed.