Webber buys out partner to become sole owner of RUT

Published Monday 7 November 2005 at 12:45 by Alistair Smith

Andrew Lloyd Webber has become the sole owner of Really Useful Theatres after buying out his business partner Bridgepoint, which formerly held a 50% share in the eight venues.

The move follows the recent sale of four of RUT’s playhouses to Nica Burns and Max Weitzenhoffer. As a result of these two deals, Lloyd Webber now owns the London Palladium, the Theatre Royal, Drury Lane, the Adelphi Theatre (in association with Nederlander International), the Palace Theatre, Her Majesty’s Theatre, the Cambridge Theatre, the New London Theatre and the Gielgud Theatre. As part of the arrangement, the composer will also take sole control of See Tickets, the theatres’ ticketing arm.

Lloyd Webber’s production and management company the Really Useful Group and Bridgepoint acquired the venues, including those recently sold to Burns and Weitzenhoffer, from Stoll Moss Theatres in January 2000 for £87.5 million. He has purchased Bridgepoint’s share for an undisclosed sum.

For more on this story, see The Stage on November 10.