Russian Oligarch Buys West End Theater

[zainmax]

From now on, it better not be only Chekhov plays!

https://www.forbes.com/sites/marchershberg/2018/06/19/russian-oligarch-takes-over-west-end-theater-in-record-breaking-deal/#7bec08bd4977

[RippedMan]

Who knew you could get a West End theater for so cheap? 15 Million? If I were Tom Cruise I'd be buying up theaters. Smart move on his part. 

[zainmax]

It says he paid more like $59.3 million.

[RippedMan]

No I know, but it says people were offering like 15 Million. Just saying that's not that expensive. Although, it sounds as if the theater is struggling. Unlike Broadway where there are too small an amount of theaters. 

[Gizmo6]

There was an interesting article about this on the stage, it stated

 

Early talk put the bidding at about £12 million to £15 million. This sounded a bit uppish to me – but not impossible. The 893-seat theatre is beautiful, but not unproblematic – there are only 67 years on the lease, it’s Grade I-listed, requires refurbishment and its freeholder the Crown Estate has a reputation for being a bit tricky. Plus, recent programming has been patchy – it recorded an operating profit of just £56,000 in 2016/17 (although it was in excess of £430,000 in 2015/16).

However, the latest rumour is that two overseas buyers are keen. The numbers now being spoken of are in excess of £30 million.

If there is any truth in this – and it wouldn’t be the first time that rumours of foreign billionaires buying into the West End have proven to be false – it is absolutely bonkers.

To put it in context: Nimax bought the much larger and more financially viable Palace Theatre for £20 million in 2012.

https://www.thestage.co.uk/opinion/2018/editors-view-who-will-buy-theatre-royal-haymarket-at-what-price/

[zainmax]

Do you think Nederlander and Jujamcyn bid? For some reason, I don't think the Shuberts want to go into London.

[JSquared2]

RippedMan said: "No I know, but it says people were offering like 15 Million. Just saying that's not that expensive. Although, it sounds as if the theater is struggling. Unlike Broadway where there are too small an amount of theaters."

 

You could just as well offer "like" $1 dollar --- that doesn't mean that it will get you "like" anything.   Also, where does Tom Cruise fit in --- why would he want a theatre?

[Daddy Warbucks]

Anastasia’s new permanent home? :)

[sinister teashop]

Blavatnik also bought the naming rights for the first circle boxes at Carnegie Hall. 

Pecunia non olet... on either side of the pond.

[RippedMan]

Jsquared2: Thanks for the snark boo!

Just saying Cruise gets paid LIKE $15 million per film. Just crazy to think he could do one movie and snatch up a theater. Just always assumed they were crazy, crazy investments. But that number is fairly realistic.

[Gizmo6]

Warbucks2 said: "Anastasia’s new permanent home? :)"

I wouldn't be surprised. I got a Survey to access reaction to promotional material for a West End Run of Anastasia . 

Though Haymarket has recently been for short-lived engagements rather than long runs. The capacity is also about 300 less than Broadhurst. 

[zainmax]

I think that Warbucks2 was joking, because Anastasia and Blavatnik are Russian.

But, Anastasia has announced that it will play the West End within the next two years.

[Bwayornoway]

Warbucks2 said: "Anastasia’s new permanent home? :)"

AHAHA AH    GOOD ONE!!!  Thanks for the laugh :)

 

[Impossible2]

The Great Comet would be a better choice and it would actually make some money unlike Anastasia.

[zainmax]

Anastasia is a much better business prospect than Great Comet, as evidenced by what happened to both shows on Bway. Anastasia has a brand name.

[Impossible2]

zainmax said: "Anastasia is a much better business prospect than Great Comet, as evidenced by what happened to both shows on Bway. Anastasia has a brand name."

Not over here it doesn't.

 

[zainmax]

The movie was shown in the UK, there was a Royal Ballet about Anastasia, and at least Anastasia is a well known historical figure. People know more about Anastasia than Great Comet.