Stoll Moss, London Theatre-Owning Giant, to Be Sold

News   Stoll Moss, London Theatre-Owning Giant, to Be Sold
 
Heytesbury Holdings is planning to sell Stoll Moss Theatres, the largest theatre owning company in London. The properties are expected to bring in up to 100 million pounds.

Heytesbury Holdings is planning to sell Stoll Moss Theatres, the largest theatre owning company in London. The properties are expected to bring in up to 100 million pounds.

One likely bidder is SFX Entertainment, the company which recently bought the beleaguered Canadian and American theatrical producing company Livent. SFX is the world's largest diversified promoter, producer and venue operator for live entertainment events. It acquired all of Livent's assets - including its theatres (the Ford Center for the Performing Arts in New York, the Pantages Theatre in Toronto and the Ford Center for the Performing Arts-Oriental Theatre in Chicago) and current and future shows -- in exchange for cash, deferred payment rights and warrants to purchase SFX common stock at premiums. SFX's bid totalled $115 million.

Another possible bidder is producer Cameron Mackintosh, said the Times.

Stoll Moss, which dates back to the late 19th century, owns ten theatres in London's West End, included the storied Theatre Royal Drury Lane. Among its properties is the mammoth London Palladium, with 2,222 seats, and the intimate Duchess, with 470 seats. Its other houses are the Gielgud, the Queens, the Lyric, the Cambridge, the Garrick, the Apollo and Her Majesty's theatres. The theatres are home to such shows as Saturday Night Fever and Miss Saigon.

--By Robert Simonson

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