Andrew Lloyd Webber Sells Four London Theatres
By: BWW News Desk Jul. 12, 2005
Lord Andrew Lloyd Webber's Really Useful Theatres (of which he owns half) has sold four London playhouses to American producer Max Weitzenhoffer and to Nica Burns, the current production direction of Really Useful Theatres.
Sales negotiations for the purchase of the Lyric, Apollo, Garrick and Duchess theatres have been underway for several weeks, with Weitzenhoffer having emerged as the front-runner for the playhouses. In a statement, Lloyd Webber said, "The sale to Nica Burns and Max Weitzenhoffer is a terrific result for theatre. I am thrilled to be able to say that these theatres are not being sold to the highest bidder, but to theatre professionals who will continue to administer them in the way that is in the best interests of the theatres themselves and the West End in general. Max is a wonderful philanthropist and long term business associate and I have the highest regard for Nica's work. Both have been supporters of London theatre for many years."Lloyd Webber, the composer/impresario whose hits include Jesus Christ Superstar, Evita, Cats and The Phantom of the Opera, also stated that the proceeds from the sale of the smaller play-oriented theatres will allow RUT to refurbish and restore its musical theatres, including the Theatre Royal Drury Lane, the London Palladium and the Palace. An estimated £10 million (almost $18 million) will be used in this direction; Weitzenhoffer's last bid had reportedly been set at £11m (roughly $20 million).Before the sale, Lloyd Webber's Really Useful Theatres was the largest theatre-owning company in London; the honor is now likely to go to Weitzenhoffer's company by January. Weitzenhoffer owns theatres (like the London Vaudeville) and produces shows on both sides of the Atlantic. The scion of the Davon Oil Company, he is currently producing Neil LaBute's Some Girl(s) at the Gielgud Theatre. A two-time Tony-winner, his past Broadway productions include Medea, The Will Rogers Follies, Largely New York, Burn This, Song and Dance and Dracula (the play).
"We have both been working in the theatre all our lives and producing
quality drama together for many years. The idea of producing and
presenting great theatre in these historic playhouses, as owners, is
thrilling," stated Weitzenhoffer and Burns, who will take over theatre-running duties on October 1st.
Sales negotiations for the purchase of the Lyric, Apollo, Garrick and Duchess theatres have been underway for several weeks, with Weitzenhoffer having emerged as the front-runner for the playhouses. In a statement, Lloyd Webber said, "The sale to Nica Burns and Max Weitzenhoffer is a terrific result for theatre. I am thrilled to be able to say that these theatres are not being sold to the highest bidder, but to theatre professionals who will continue to administer them in the way that is in the best interests of the theatres themselves and the West End in general. Max is a wonderful philanthropist and long term business associate and I have the highest regard for Nica's work. Both have been supporters of London theatre for many years."Lloyd Webber, the composer/impresario whose hits include Jesus Christ Superstar, Evita, Cats and The Phantom of the Opera, also stated that the proceeds from the sale of the smaller play-oriented theatres will allow RUT to refurbish and restore its musical theatres, including the Theatre Royal Drury Lane, the London Palladium and the Palace. An estimated £10 million (almost $18 million) will be used in this direction; Weitzenhoffer's last bid had reportedly been set at £11m (roughly $20 million).Before the sale, Lloyd Webber's Really Useful Theatres was the largest theatre-owning company in London; the honor is now likely to go to Weitzenhoffer's company by January. Weitzenhoffer owns theatres (like the London Vaudeville) and produces shows on both sides of the Atlantic. The scion of the Davon Oil Company, he is currently producing Neil LaBute's Some Girl(s) at the Gielgud Theatre. A two-time Tony-winner, his past Broadway productions include Medea, The Will Rogers Follies, Largely New York, Burn This, Song and Dance and Dracula (the play).
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