Live Nation theatrical business sale finalised
UK producer John Gore has completed the purchase of Live Nation’s theatrical business in the US for $90 million.
Gore, who has been one of Andrew Lloyd Webber’s key investors and produced Thunderbirds FAB in the West End, will serve as chief executive of Key Brand Entertainment – the company which has taken over Live Nation’s business – while Thomas B McGrath will serve as chairman.
“We are extremely pleased to be acquiring one of the theatrical industry’s most powerful franchises and look forward to providing the financial and management stability needed to grow this company into the future,” Gore said. “We are dedicated to being the absolute best in live theatre, and will actively look to acquire intellectual properties that can be developed into major new productions.
“I intend to contribute ardently to the health of this industry on Broadway and in each city where our shows perform,” he continued. “We see our mission as providing indelible memories and electrifying experiences that will both invigorate existing theatergoers and help beguile new ones.”
Key Brand Entertainment will now control Broadway Across America, the leading presenter of touring live theatre throughout North America, eight theatres that Live Nation leased or managed in Minneapolis, Boston, Baltimore and Toronto, the Canadian arm of its touring business, investments in 13 current and upcoming Broadway productions, eight current US touring productions and six West End and UK touring productions. Live Nation retains ownership of Broadway’s Hilton Theatre, current home of Young Frankenstein, as well as a few other US theatres and its UK assets.
For more, see this week’s print edition of The Stage.
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