Losses undermine Goldsmith
'Eclipse' loses $1.6 mil
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The company said the move was prompted by an estimated $1.6 million loss on August's Total Eclipse music festival in Cornwall, attended by only 7,000 when a crowd of 25,000 was expected.
Goldsmith's credits include organizing 1985's Live Aid and tours for musicians including Bob Dylan, Madonna and the Rolling Stones. He recently branched out into classical music.
Goldsmith has been in trouble before, having absorbed big losses on "Lawnmower Man 2: Beyond Cyberspace" (1996), which led to the closure of his film company.
The impresario's recent trouble began last year, when three of his staff left to set up rival outfit Triple A, taking clients such as Eric Clapton, Boyzone and Michael Flatley with them. Other acts, such as Sting and the Pet Shop Boys, have remained.
