Sale of London Theatres and Really Useful Group Uncertain

By: Jun. 14, 2005
Get Access To Every Broadway Story

Unlock access to every one of the hundreds of articles published daily on BroadwayWorld by logging in with one click.




Existing user? Just click login.

Andrew Lloyd Webber has been trying to quell rumors about the sale of his Really Useful Group, which manages the production and publishing rights of shows in the Lloyd Webber catalogue--among them Jesus Christ Superstar, Evita, Joseph and the Amazing Technicolor Dreamcoat, The Phantom of the Opera, Starlight Express, Aspects of Love and Sunset Boulevard.  Additionally, a new candidate for the ownership of four on-sale Lloyd Webber theatres has entered the picture.

The futures of both the theatres and the Really Useful Group are uncertain, although the
Duchess, Lyric, Apollo and Garrick Theatres (which are co-owned by Lloyd Webber and Bridgepoint Capital) were said to be likely to go to American Max Weitzenhoffer, who put ip a hefty 12 million ($21.6 million) bid.  Weitzenhoffer owns London's Vaudeville Theatre, and has produced West End shows like the current Some Girl(s), in addition to Broadway shows like The Will Rogers Follies.   However, the BBC's Michael Grade is now in the running for the playhouses--he has offered £290 million ($524 million) for rights to the Lloyd Webber catalogue as well as for the theatres, according to Variety.  However, "that prospect immediately prompted a piece in The Times warning against conflict of interest, since Grade would then be in control of a company earning revenue from sales of its music catalogue to the BBC, where Grade is chairman."

A spokesperson for the Really Useful Group in London told Daily Variety that "Andrew will not be considering any offers until early July, after the arts festival that he hosts at his country home every year," referring to the Sydmonton Festival. 
"In the final event, it may be that he decides not to accept any offers and will continue to run the business in its present form," stated Lloyd Webber's office.  The composer/entrepreneur does plan to hold on to his owenership of musical-friendly theatres such as the Palace and the Palladium, which have been very lucrative for the Really Useful Group in the past.




Videos