Michael Grade News

We speak to the legendary lyricist about Bond, Lloyd Webber, and the forthcoming celebration of his work!

Andrew Lloyd-Webber has confirmed he is looking for a buyer or partner to take possession of the Palace Theatre, the first theatre he bought outright in 1983 for £1.3million, according to the UK's Daily Express.

The Stage reports exclusively today that Andrew Lloyd Webber is close to inking a deal with a group headed by Michael Grade, the former BBC and ITV chairman. According to the report: 'The Stage understands that a deal was agreed earlier this week- believed to be in the region of £50 million - for a consortium led by Grade and theatrical agent Michael Linnit to purchase the New London, Palace, Cambridge and Her Majesty's theatres in London....Lloyd Webber's Really Useful Group will retain ownership of the Theatre Royal Drury Lane, London Palladium and its 50% stake in the Adelphi Theatre, which is co-owned with US company Nederlander.'

The Stage is reporting that Andrew Lloyd Webber and the Really Useful Group are in talks to sell four of his London theatres (the New London, Palace, Cambridge and Her Majesty's ) to a consortium led by former BBC and ITV chairman Michael Grade and theatrical agent Michael Linnit.

Andrew Lloyd Webber is not sure to whom he will sell the Really Useful Group, or even if he will; also, four of his theatres are still up for sale