Live Nation Entertainment Sells Foxwoods Theatre
- Ambassador Theatre Group Subsidiary Acquires the Largest Theatre on Broadway -
LOS ANGELES, May 20, 2013 /PRNewswire/ — Live Nation Entertainment, Inc. (NYSE: LYV) reported today that it successfully completed the sale of the historic Foxwoods Theatre to Lyric Theatre, LLC, a subsidiary of Ambassador Theatre Group (ATG).
“We have been working to realign our assets, and when it became clear to us that the Foxwoods Theatre would not figure prominently in our plans for the future, we turned our focus to finding the right buyer for this landmark theatre. We know the Foxwoods Theatre will be in good hands with ATG, a company with a sterling reputation in the theatrical world,” said Michael Rapino, president and chief executive officer of Live Nation Entertainment. “We will continue to focus on delivering great live music to fans and expand those offerings through accretive investment opportunities in electronic dance music (EDM), festivals and international assets.”
With an impressive collection of theatres through out the United Kingdom, the Foxwoods Theatre will become the 40(th) theatre in the ATG portfolio and their first theatre in the United States. Ticketing for the Foxwoods Theatre will continue to be provided by Ticketmaster.
About Live Nation Entertainment:
Live Nation Entertainment is the world’s leading live entertainment company comprised of four market leaders: Ticketmaster.com, Live Nation Concerts, Artist Nation Management and Live Nation Media/Sponsorship. For additional information, visit www.livenation.com/investors.
SOURCE Live Nation Entertainment