After almost a year of fielding bids, Live Nation has sold most of its North American theater business, including the Broadway Across America touring network, to Key Brand Entertainment, a company owned by a British producer and run by an American entertainment executive.
John Gore, a British producer, is one of the buyers of Live Nation’s theater business.
The deal, completed on Wednesday, also includes eight theaters that Live Nation leased or managed in Minneapolis, Boston, Baltimore and Toronto, as well as the Canadian arm of the touring business. The touring network includes agreements to market and produce shows at more than 40 theaters across North America. The sale price was $90.4 million. [NYTimes.com]