Red Sox, Live Nation propose 5,000-seat Fenway Theater

The Boston Red Sox are getting into the music business.

Fenway Sports Group and Live Nation are jointly exploring development of a 5,000-seat music venue, to be called the Fenway Theater, on the corner of Lansdowne and Ipswich streets near Fenway Park. 

The Boston Business Journal was first to report in September that Fenway Sports Group — the parent company of the Red Sox — was exploring real estate development opportunities for property the team controls in the neighborhood surrounding the…

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