Ambassadors takes over
Group buys West End theaters
The move follows the recent acquisition by Andrew Lloyd Webber's Really Useful Group of the Stoll Moss theater chain, with its 10 playhouses, bringing the composer's real estate total to 13.
The result effectively splits much of London's theater real estate between two British players. A third group of theaters, the Apollo Leisure chain, was taken over by U.S. conglomerate SFX last year.
Broadway magnate Max Wietzenhoffer was understood to have been interested in the Ambassadors theaters, which include the 251-seat Donmar Warehouse, home since 1992 to "American Beauty" helmer Sam Mendes, the venue's a.d.
The lineup also folds within it several of London's most desirable straight play houses (the Albery and Wyndham's, the latter currently housing the long-running "Art"), as well as the Piccadilly, erstwhile home to several of London's more notorious flops ("Which Witch," "King," etc.) as well as current Olivier nominee "Spend Spend Spend."
The sale price was markedly less than the one for which Lloyd Webber bought Stoll Moss. But his purchase encompassed many of London's leading musical houses, whereas the Ambassadors Theater Group purchase does not.
