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Ambassador group buys Live Nation

Source: The Guardian

Nov 03, 2009

Summary

Ownership of British theatre had been given a big shake-up

Ownership of British theatre was given its biggest shake up in years today when the Ambassador Theatre Group completed the purchase of Live Nation's British theatres for £90m.

The deal makes ATG, created 17 years ago by husband-and-wife team Howard Panter and Rosemary Squire, one of the UK's biggest theatre operators. The company now adds two famous theatres to its portfolio in London's West End: the Apollo Victoria, an art deco gem that is home to the musical Wicked, and the Lyceum, which plays host to Disney's The Lion King, now in its tenth year.

But it is 14 regional theatres, including the Sunderland Empire, the Palace in Manchester and the Edinburgh Playhouse, which make up the bulk of the deal. It creates a business with a combined value of £150m.

Panter, who set up the business with his wife in 1992, said he was delighted by the acquisition which had come about after competition from Europe and north America. It was also an expression of confidence in theatre itself. "West End theatre audiences ar

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