Lloyd Webber Buys Out Partners for London Theatre Ownership
Andrew Lloyd Webber will have full ownership of a number of London theatres beginning on November 30th.Lloyd Webber, who previously co-owned the London Palladium, Theatre Royal, Drury Lane, Palace Theatre, Gielgud Theatre, Cambridge Theatre and the New London theatre, will buy out his partners, the Equity Group Bridgepoint, "for an undisclosed sum," according to an article in BBC News. He will also continue to co-own the Adelphi Theatre. With Bridgepoint, he had purchased the theatres (as well as four others and a ticketing service) for £87.5m in 2000. "Musical theatre has been my life-long passion and I am overjoyed to have secured the ownership of these wonderful buildings for future generations of theatregoers. The West End theatre plays a vital role in London's life and I am totally committed to its future. I have pledged £10m for the renovation and refurbishment of my theatres over the next five years," stated the composer/impresario. Earlier this year, he sold the Lyric, Apollo, Garrick and Duchess Theatres to American producer Max Weitzenhoffer and to Nica Burns, the current production direction of Really Useful Theatres. Lloyd Webber's musicals include Jesus Christ Superstar, Joseph and the Amazing Technicolor Dreamcoat, Cats, Song and Dance, The Phantom of the Opera, Starlight Express, Aspects of Love, Whistle Down the Wind, The Beautiful Game and The Woman in White, a West End hit that open on Broadway on November 17th. His Tony Award-winning musical Evita will be revived in the West End in spring of 2006.
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