The London Live events will be organised by Live Nation and are a joint venture between the Mayor of London, The Royal Parks and the London Borough of Tower Hamlets.
Olympic Games coverage from the BBC will be broadcast at Hyde Park and Victoria Park from 27 July to 12 August.
Channel 4 will screen the Paralympic Games at Trafalgar Square from 29 August to 9 September.
The events will have live music acts and the opportunity to try out different sports. They will run from early morning until midnight, and 11pm for the Trafalgar Square screenings, subject to licensing.
London Live in Victoria Park will take on a sports café theme with ‘have a go’ sessions at the Victoria Park Sports Courts.
Live Nation COO John Probyn said: "We have a great pedigree of delivering fantastic open air events in Hyde Park and are excited to be working on delivering the same quality events in Victoria Park and Trafalgar Square for Londoners and visitors to the capital for the London 2012 Games. Our aim is to deliver one of London's biggest Olympic celebrations."
Live Nation will also hold two ticketed Celebration Concerts for up to 80,000 people in Hyde Park to coincide with the opening and closing ceremonies of the games.
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