North West theatres bought in £90m deal

Michael Hunt

Four North West theatres have been bought as part of Ambassador Theatre Group's £90m purchase of Live Nation's UK theatres.

They include:

  • Liverpool's Empire Theatre
  • The Palace Theatre, Manchester
  • The Opera House, Manchester
  • Southport Theatre

A further nine theatres were bought in the regions as part of the deal in Sunderland, York, Birmingham, Folkestone, Oxford, Torquay and London, which creates a combined business valued at £150m for ATG. Live Nation still holds one third share of The Dominion Theatre in London.

Co-founded by Howard Panter and Rosemary Squire in 1992, ATG, with the acquisition of Live Nation Theatres, will have a total of 39 venues. When a new theatre, the Aylesbury Waterside Theatre, opens next year, the total will stand at 40.

Former BBC director general Greg Dyke will be joining ATG in the new role of executive chairman. Sir Eddie Kulukundis OBE will remain as Life President.

Commenting about the acquisition, Greg Dyke said: "ATG is a great British success story and the acquisition of the Live Nation Theatres will make the Group even more successful and I'm looking forward to being part of its future."

ATG was advised by Deloitte's Corporate Finance. Live Nation was advised by Goldman Sachs.

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