SFX invades Europe with Apollo buy

Clayman part of package

NEW YORK — Fast-growing SFX Entertainment is launching into the European market, announcing Tuesday that it plans to acquire the U.K.’s Apollo Leisure Group in a deal worth $254 million.

Apollo operates three arenas in the U.K. and Ireland and owns or operates 23 theaters, including the Apollo Victoria Theater, the Lyceum Theater and the London Apollo Hammersmith Theater, all in London. Company will open Disney’s “The Lion King” at the Lyceum in September. Apollo also owns Tickets Direct, a system that handled some 6 million ducats in 1998.

Clayman included

As part of the transaction, it will acquire the Barry Clayman Corp., which is 50% owned by Apollo shareholders and promotes concerts and entertainment events in the U.K. and throughout Europe.

Apollo is “a great entry point for us into the European market,” said SFX chairman and CEO Robert Sillerman.

SFX said it will pay in loan notes and stock.

Separately, SFX filed with the SEC to sell 7.5 million shares of common stock.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety