Concerts West acquires L.A.'s Goldenvoice
This article was corrected on March 7, 2001.
Concerts West, which co-promotes major concerts at the Staples Center, has purchased most of the assets of Goldenvoice, L.A.’s premier promoter of concerts at smaller venues.
Goldenvoice partners Paul Tollett and Rick Van Santen will assume the titles of co-president of the new entity, Goldenvoice LLC, reporting to Concerts West co-CEOs John Meglen and Paul Gongaware. Concerts West is owned by Anschutz Entertainment Group.
While it is a multimillion-dollar deal, Concerts West purchased Goldenvoice’s assets for considerably less than the $7 million figure that had been reported.
“We pride ourselves on being artist-friendly, which goes hand in hand with the philosophy of Concerts West,” Van Santen said in a statement. The exec also cited a desire to expand Goldenvoice’s national profile while discovering new talent.Through acquisitions, Anschutz has been building several divisions — among them a facilities division and a concerts division — much as SFX did in the late 1990s.
Ramping up exhibition
This month, Anschutz will be taking on 51% of the Edwards Cinemas chain, which operates 687 screens in Southern California, Idaho and Houston. The company already owns United Artists Theatres and is hoping to take over Regal Cinemas; financier Philip Anschutz took control of the former by acquiring its debt in a Chapter 1 reorg.
Besides booking Staples, Concerts West promoted national tours in 2000 by the Dixie Chicks and Mariah Carey, as well as an Andrea Bocelli tour the previous year.
Goldenvoice gained fame for booking alternative music acts such as No Doubt, Red Hot Chili Peppers, Beck and the Beastie Boys from their early years up through their superstar days.
“We believe that the blending of our two companies will further increase the scope of our national tours,” Concerts West’s Meglen said.