Dublin's Point Theatre is to re-open as a 13,000 capacity venue with a new name this December. The venue also known as 'The Point' or 'The Point Depot' became a familiar setting to millions of European television viewers in the 1990's, as it was the venue for the Eurovision Song Contest in 1994, 1995, and 1997, becoming the only venue to have hosted the final three times.

The Point thus also served as the first place the dancing sensation Riverdance was performed, being in the interval act of the 1994 Eurovision Song Contest.

Mobile phone company O2 today announced Ireland's first ever music venue naming rights deal, which will see the Dublin docklands venue renamed 'The O2.' The deal was done in conjunction with worldwide music promoter Live Nation.

The venue will open its doors this December and promises to stage 150 live events each year. The venue promises an amphitheatre design and "clear sightlines and proximity to the stage for everyone in the audience, due to its unique tiered seating design".

The Point closed its doors for the refurbishment early last year.

The phone company will also be offering ticket incentives to its customers, saying that they will have the chance to buy tickets 48 hours before they go on general release and can receive fast track entry to the venue.

The amount the company paid for the naming rights has not been disclosed.

(Article picture is an artists impression of what the new venue may look like)